The National Bureau of Statistics (NBS) said Nigeria’s foreign debt stood at $25.27 billion as at 31st December 2018.
The NBS said this in “Nigerian Domestic and Foreign Debt data” for fourth quarter, 2018 posted on its website.
The bureau said further disaggregation of Nigeria’s foreign debt showed that $11.01 billion of the debt was multilateral.
It said that $34.63 million was bilateral from Agence Francaise de Development (AFD) and another $2.75 billion bilateral from the Chinese Exim Bank, Japanese International Cooperation Agency, KFW Development Bank and India.
In addition, the report said $11.17 billion was commercial, which were basically Eurobonds and Diaspora Bonds.
In addition, the report said $11.17 billion was commercial, which were basically Eurobonds and Diaspora Bonds.
According to the report, Lagos State has the highest foreign debt profile among the 36 states and the FCT, accounting for 5.64 per cent.
It said Edo was the second state with highest debt, accounting for 1.09 per cent, followed by Kaduna (0.90 per cent) and Cross River with 0.75 per cent.
Similarly, the bureau said total domestic debt was N16.63 trillion in the quarter under review.
It said Lagos State accounted for 3.19 per cent of the total domestic debt stock while Yobe State had the least debt stock in this category with a contribution of 0.17 per cent to the total domestic debt stock.
The data for the report was supplied administratively by the Debt Management Office, verified and validated by the NBS.
“There is nowhere in the world where the President can propose to stop the law-making process by an executive fiat or order. The President cannot withhold assent to a bill on the mere fact that consultations are on-going, which will enable him come up with a new bill”, the committee stated.
Meanwhile, the Senate resolved to withdraw the Chartered Institute of Entrepreneurship (Establishment) Bill, 2018; the Subsidiary Legislation (Legislative Scrutiny) Bill, 2018; the Advanced Fee Fraud and Other Related Offences (Amendment) Bill, 2018 and the Nigerian Maritime Administration and Safety Agency Amendment Bill, 2018.
