Nigeria’s domestic debt rises by N1.26tn

The Federal Government’s domestic debt outstanding rose by N1.26tn to N13.41tn as of June 2019, over the figure for the corresponding period of 2018.

This was disclosed in the Central Bank of Nigeria’s half year report on Federal Government’s domestic debt.

Part of the report read, “The total domestic debt outstanding at the end of June 2019 stood at N13.41tn, representing an increase of N1.26tn or 10.38 per cent, over N12.15tn in the corresponding period of 2018.”

It explained that the debt stock during the review period comprised the Federal Government of Nigeria’s bonds worth N9.69tn or 72.26 per cent, Nigerian Treasury Bills worth N2.65tn or 19.77 per cent and FRN Treasury Bonds of N125.99bn or 0.94 per cent.

Others included FGN promissory notes of N707.76bn or 5.28 per cent, FGN Sukuk worth N200bn or 1.49 per cent, FGN green bonds worth N25.69bn or 0.19 per cent and FGN savings bonds of N10.43bn or 0.08 per cent.