Editorial Team

Emmanuel Udom-Managing Editor, Stephen Dijo Philemon-Deputy Editor, Janet Udom-Senior Correspondent, Precious Udom-Senior Correspondent, Williams Ita-Bureau Chief(Akwa Ibom/Cross River), Fabian Idoko-Senior Correspondent
  • ABURIGHT NIGERIA COMPANY

    Manufacturer's Representative Import Export General Merchandise Contract Adress: Araromi Quarters, Owode Area, Ifo, Ogun state, Nigeria P.O.Box 2632, Oshiodi, Lagos Telephone: 2348166719412

    Friday, 2 September 2016

    Domestic debt stocks for states in Nigeria


    Here are details on the Domestic Debt Stock by all Nigerian states as at December 2015 and the sad reality is, most of them have nothing to show for it.
    First of all, Domestic or Internal debt is the amount of money raised by the Government, in local currency and from its own residents.
    Generally, domestic debt consists of two categories, which are Bank and Non-Bank borrowing.
    Put differently,it is also defined as debt denominated in local currency. 
    The management of domestic debt in Nigeria has hitherto been conducted by the Central Bank of Nigeria (CBN) through the issuance of government debt instruments, which consisted of:
    • Nigerian Treasury Bills
    • Nigerian Treasury Certificates
    • Federal Government Development Stocks
    • Treasury Bonds
    • Ways and Means Advances.
    Now to what the states owe;
    Abia – N33.5bn
    Adamawa – N47.2bn
    Akwa Ibom – N147.6bn
    Anambra – N3.6bn
    Bauchi – N57.6bn
    Bayelsa – N103.3bn
    Benue – N39.9bn
    Borno – N22.3bn
    Cross River – N115.5bn
    Delta – N320.6bn
    Ebonyi – N34.1bn
    Edo – N46.2bn
    Ekiti – N52.5bn
    Enugu – N37.55bn
    Gombe – N53.4bn
    Imo – N71.7bn
    Jigawa – N22.1bn
    Kaduna – N49.8bn
    Kano – N65bn
    Katsina – N11.49bn
    Kebbi – N63.7bn
    Kogi – N42bn
    Kwara – N31.9bn
    Lagos – N218.5bn
    Nasarawa – N40.5bn
    Niger – N21.5bn
    Ogun – N75.9bn
    Ondo – N26.6bn
    Osun – N144.6bn
    oyo – N47.4bn
    Plateau – N96.2bn
    Rivers – N134.9bn
    Sokoto – N11.6bn
    Taraba – N27.6bn
    Yobe – N3.8bn
    Zamfara – N46.2bn
    Domestic debt stock increased by N848.08bn from N1.655tn in 2014 to N2.503tn in 2015.
    Highest Jump in Domestic Debt stock (2014 to 2015)
    Delta – N108.6bn increase
    Osun – N106.8bn increase
    Akwa Ibom – N65.81bn
    Reduction in domestic debt stock 2015
    Lagos – N49.5bn reduction from 2014
    Niger – N1.9bn reduction from 2014
    Only Lagos and Niger states had reductions in total domestic debt stock in 2015
    SCARY NUMBERS
    Katsina state had 1,859% increase in domestic debt stock
    2014 – N586m
    2015 – N11.4bn
    Jigawa state had a 1314% increase in domestic debt stock
    2014 – N1.5bn
    2015 – N22.1bn
    Ebonyi state had a 391% increase in domestic debt stock
    2014 – N6.9bn
    2015 – N34.1bn
    Nigeria’s Public Debt stock
    Ext Debt stock (FG+states) – N2.11tn
    Domestic (FG) – N8.83tn
    Domestic (States) – N2.5tn
    Total – N13.45tn

    Source: Informationng

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