The Nigerian states and Federal Debt Stock data as at 31st December 2018, reflected that the country’s foreign and domestic debts stood at N7.76trillion and N16.63trillion respectively.
The domestic debt stock for Nigeria experienced a 5.94% increase compared with the debt stock from June 31, 2018, while the foreign debt stock experienced a 14.45% increase from June 2018.
Of the total domestic debt standing at N16.63trillion, the Federal Government accounts for N12.77trillion, while the 36 states account for N3.85trillion.
Lagos State has the highest domestic debt, standing at N530billion which is about 13.760% of the total state domestic debt. Meanwhile, Yobe state has the least debt stock in this category, with a contribution of 0.721% to the total state domestic debt stock.
Among the 36 states, Anambra state had the highest domestic debt growth rate (when compared with the debt profile from Q2 2018), the state’s domestic debt rose from N2.6billion to N33.490billion. Meanwhile, Kogi state had the highest reduction in domestic debt from the second quarter, with their domestic debt dropping from N114.3billion to N84.9billion.