STUDY IN CHINA

Tuesday, June 30, 2015

Nigeria’s External Debt Stock Stands At $9.4trillion – DMO

DMO
The Debt Management Office (DMO), on Monday, said that Nigeria’s external debt stock profile stood at $9.4 trillion as at March 31, 2015.

This was contained in a release on the DMO’s website, showing the country’s debt stock profile.


The figure shows a decrease of about $300 million from the $9.7 trillion that the country had as its debt stock as at December 31, 2014.

A breakdown shows that Nigeria owed the highest amount to the World Bank Group with a debt profile of $5.6 trillion to the bank’s International Development Association and $89.4 million to the International Fund for Agricultural Development. It said that Nigeria owed the African Development Bank (AfDB) $200 million and $513.7 to African Development Fund (ADF), a debt incurred through AfDB Group.

Similarly, Nigeria’s indebtedness to Arab Bank Economic Development for Africa stood at $4.4 million while its debts to European Development Fund and Islamic Development Bank were $75.1 million and $19.6 million respectively.

The debt profile also shows that the country’s indebtedness through bilateral agreement to Exim Bank of China and French Development Agency were 1.2 trillion dollars and 140.2 million dollars.

It further said that Nigeria’s external debt stock through government’s issuance of Eurobond stood at a balance of 1.5 trillion dollars 

(NAN)

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