Nigeria’s Debt Profile Q1 2019: A look at the Figures

By July 29, 2019Economy, Infographics

As at the end of the first quarter of 2019, Nigeria’s public debt portfolio stood at N24.95trn ($81.27bn). This was contained in a recently released data by the Debt Management Office. The country’s external component of the debt stood at N7.86trn ($25.61bn), while domestic debt stood at N17.09trn ($55.66bn).

External debt accounted for 31.51% of the total debt which is a decrease of 1.34% when compared to the country’s external debt of N7.76 trillion ($25.27bn) at Q4 2018.Nigeria's Q1 2019 Debt Profile

The domestic debt accounted for 68.49% of the total debt. This is a 2.77% increase when compared to the $54.16bn (N16.63trn) of the previous quarter.

The total debt figures indicate an increase of 2.29% when compared to Q4 2018 when the total public debt stood at N24.39trn ($79.44bn).

It’s worth noting that the bulk of the domestic debts originated from the Federal Government with the FG accounting for 76.75% of the total domestic debts.

Putting the figures in perspective, the country borrowed a total of $221 every second in the last 12 months (i.e. Q1 2018 to Q1 2019).Nigeria's debt profile compared

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