According to the bureau, Nigeria’s total public debt for the States and the Federal Government showed that N12.71 trillion or 38.60 per cent of the debt was external, while N20.21 trillion or 61.40 per cent of the debt was domestic.

“Meanwhile, 11.17 billion dollars was commercial which are Eurobonds and Diaspora Bonds and 186.70 million dollars as Promissory notes.”

“Further disaggregation of Nigeria’s foreign debt showed that 17.93 billion dollars of the debt was multilateral, 4.06 billion dollars was bilateral from the African Development Bank (AfDB), Exim Bank of China, Japan International Cooperation Agency (JICA), India and KFW”.

The report said that the total States and Federal Capital Territory (FCT) domestic debt was put at N4.19 trillion with Lagos State accounting for 12.15 per cent of the debt stock.