… Nigeria’s public debt stocks hit 35.5 billion naira
The Nigerian government has committed 612.712 billion naira to service its domestic debt component in the first quarter of 2021, data from the Debt Management Bureau (DMO) confirmed on Wednesday. The sum of N219. 289 billion were paid in January while 123.093 billion naira and 270.328 billion naira were paid respectively in February and March, he said.
He put Nigeria’s total stock of public debt at N35. $ 5,000 billion or as of June 30, 2021. The debt agency said the debt figure includes outstanding debt from the federal government, 36 state governments and the Federal Capital Territory (FCT).
The domestic debt component is 20,636 billion naira (62.33%) while the external debt is 12,470 trillion naira (37.67%). Of the sum, the federal government’s stock of debt was valued at N16.513 billion, while the 36 states and the CTF owed N4122 billion. from the federal government to state governments, petroleum marketing companies, exporters and local entrepreneurs.
“Compared to the total public debt stock of 32.916 billion naira as of December 31, 2020, the increase in the debt stock was marginal at 0.58%,†DMO said. “Further analysis of the stock of public debt shows that the increase occurred in the stock of domestic debt, which increased by 2.11% from 20.2 trillion naira in December 2020 to 20.637 billion naira as of March 31, 2021. It included FGN bonds, the Nigerian Treasury. Nigerian Sukuk Bills, T-Bills, and Green Bonds used to finance infrastructure and other investment projects, as well as N940.220 billion promissory notes.
The DMO said the outstanding external debt rose from $ 33.348 billion as of December 31, 2020 to $ 32.86 billion (12,470 billion naira) due to Nigeria’s buyback of the euro bond. of $ 500 million in January 2021. Federal government debt a stock of N16.513 trillion showed that FGN bonds stood at N12.465 billion, which represented 75.48% of its total debt. Treasury bills amounted to N2604 billion, or 15.77%; while Nigerian treasury bills were 100 billion naira or 0.61 percent.
The FGN savings bond stood at N14.394 billion, which represented 0.09 percent. FGN Sukuk was N362.557 billion, or 2.20 percent; while the green bond was 25.690 billion naira or 0.16 percent. Promissory notes 940 220 353 590.00 which represented 5.69 percent.
Promissory notes are interest-free notes issued to settle federal government arrears to local entrepreneurs.
On Tuesday, President Muhammadu Buhari wrote to the Senate, seeking approval for a new loan of $ 4,054,476,863 and $ 710 million in an amendment to the 2018-2020 borrowing plan. The letter was read in plenary by the President of the Senate, Senator Ahmad Lawan.
SHOCKING LIFE STORY !!!
Abuja Man reveals (FREE) secret fruits that increased his Manh00d size and lasting potency in 5 days …
CLICK HERE TO GET IT !!!