Wednesday, September 19, 2018
Advertisement

Nigeria’s external debt now $9.4bn

Nigeria’s external debt now $9.4bn
June 29
22:35 2015
Advertisement

The Debt Management Office (DMO) says Nigeria’s external debt profile stood at $9.4 billion as at the end of March 2015.

This was disclosed in a release that DMO published on its website on Monday, detailing the country’s debt stock profile.

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

A breakdown of figures showed that Nigeria’s largest debt is to the World Bank, with a debt of $5.6 billion to the bank’s international development association and 89.4 million dollars to the international fund for agricultural development.

It further disclosed that Nigeria owed the African Development Bank (AfDB) $200 million and owe another $513.7 million to the African Development Fund (ADF), a subsidiary of the 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 billion and $140.2 million.

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

RECEIVE ALERTS FROM THECABLE

BBM CHANNEL C0038F78B
WHATSAPP 08113975334
TWITTER @thecableng
Copyright 2018 TheCable. All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express written permission from TheCable.
Tags
Advertisement

Social Comments

1 Comment

  1. Wadoo Wadoo
    Wadoo Wadoo June 30, 13:34

    Only $9 billion? For the whole 9ja? Not good enough! Delta State alone under Uduaghan owes $3.5 billion USD that is N773 billion. What a “blessed” governor!

    Reply to this comment

Write a Comment

Your email address will not be published.
Required fields are marked *

*

Advertisement
Advertisement

Exchange Rates

September 18, 2018USDGBPEUR
INTERBANK360.45480.18420.32
LAGOS360485425
KANO361483423
PH362482423
ABUJA362481423
NOTE: The black market rates represent the most prevalent. They could be slightly higher or lower among different sellers.
Advertisement
Advertisement
Advertisement
Advertisement