Nigerian States and Federal public debt portfolio as at 31st March 2019 stood at $81.27 billion equivalent of N24.95trillion according to figures from the National Bureau Of Statistics (NBS)
The public debt stock breakdown reflects that N7.86 trillion representing 31.51% was external while N17.08 trillion representing 68.49% of the total debt was domestic debt.
The domestic debt portfolio shows that Lagos state accounted for N3.97 trillion which is 13.64% of the total domestic debt stock while Yobe state has the least debt stock in this category with a contribution of N16.99 billion being 0.68% to the total domestic debt stock.
The federal government domestic debt breakdown by instrument type shows that: FGN Bond which is N9.72 trillion accounted for 74% of the total debt stock while FGN Savings Bond with a balance of N9.71 billion accounted for the least at 0.07%.
A further review of the debt figures shows that the federal government total foreign debt increased 17.99% from June 2018 figure of $17.83 billion to March 2019 figure of $21.04 billion. While total of all states and FCT foreign debt portfolio figures reduced by 0.42% from $4.24 billion in June 2018 to $4.23 billion in March 2019.
Internal debt portfolio of the federal government increased by 2.7% from N12.77 trillion in December 2018 to N1.3.11 trillion in March 2019. Internal debt for states and FCT also increased by 3.1% from N3.85 trillion in December 2018 to N3.97 trillion in March 2019.
A total of N610.28 billion was used to service domestic debt in quarter 1 2019 while $357.26 million was used to service external debt in the same period.
Read also: FG domestic debt increased by 1.16% in 2018