Economy

Domestic Debt Stock Rises to N11.05tn – NBS

Domestic Debt Stock Rises to N11.05tn

The country’s total domestic debt profile rose to N11.05 trillion as at December 30, 2016, compared to N10.84 trillion in September, according to the National Bureau of Statistics (NBS).

According to the information posted on its website, federal government bonds accounted for N7.56 trillion, representing 68.41 per cent of total debt instrument.

Nigerian Treasury Bills accounted for N3.27 trillion, representing 29.64 per cent of total domestic debts while Treasury Bonds totalled N215.98 billion in the period under review.
Nigeria borrows from both domestic and foreign markets from time to time to meet its budgetary expenditure.

The total public debt stock including the external component as at June 30, 2016, stood at N16.29 trillion.

Meanwhile, the debt management has also released the subscription form for the federal government Savings Bond which is expected to enhance the participation of individuals in government debt instruments as opposed to institutional investors.

The facility has a minimum and maximum subscription offers of N5,000 and N50,000 respectively.

Samed Olukoya

Is the CEO and Founder of Investors King Limited. He is a seasoned foreign exchange research analyst and a published author on Yahoo Finance, Business Insider, Nasdaq, Entrepreneur.com, Investorplace, and other prominent platforms. With over two decades of experience in global financial markets, Olukoya is well-recognized in the industry.