Nigerias Total Public Debt Increased By 2.4 Trillion In Q2 2020 - NBS

<blockquote>Nigerian States and Federal Debt Stock data as at 30th June 2020 reflected that the countrys total public debt portfolio stood at N31.01trn.<br>Further disaggregation of Nigerias total public debt showed that N11.36trn or 36.65% of the debt was external while N19.65trn or 63.35% of the debt was domestic.<br><br>The total States and FCT domestic debt was put at N4.19trillion with Lagos state accounting for 11.77% of the debt stock while Yobe State has the least debt stock in this category with a contribution of 0.70%.<br><br>Total public debt stock increased by $6.5 billion (2.4 trillion) from Q1 2020 to Q2 2020, due to the increase in multilateral loans and FGN bonds.<br><br>External public debt in Q2 2020 increased to $31.5billion (11.4 trillion) as a result of loans from the IMF ($3.4 billion) and World Bank ($400 million). Domestic debt stock also increased by $2.8 billion (1 trillion) mostly driven by an increase in FGN bonds by 700 billion.</blockquote><br><a href="https://brandspurng.com/2020/09/15/nigerias-total-public-debt-increased-by-%e2%82%a62-4-trillion-in-q2-2020-nbs/">https://brandspurng.com/2020/09/15/nigerias-total-public-debt-increased-by-%e2%82%a62-4-trillion-in-q2-2020-nbs/</a>
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