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The Nigeria national debt or simply national debt of Nigeria is the total amount of money that the Federal Government of Nigeria owes to its creditors, both domestic and external. The national debt is composed of two main components: debt held by the public and debt held by government accounts.
The committee evaluates loan requests, scrutinizes their potential impact on Nigeria's debt profile, and makes recommendations to the House. [ 2 ] As of January 2025, the committee is chaired by Honourable Abubakar Hassan Nalaraba , with Honourable Lanre Okunlola serving as the deputy chairman.
[1]: 81 A debt instrument is a financial claim that requires payment of interest and/or principal by the debtor to the creditor in the future. Examples include debt securities (such as bonds and bills), loans, and government employee pension obligations. [1]: 207 Net debt equals gross debt minus financial assets that are debt instruments.
The Debt Management Office (DMO) is a government agency established on 4 October 2000, tasked with centralizing the management of Nigeria's debt. [1] It was created in response to challenges in Nigeria's debt portfolio, which included high external and domestic debt, substantial debt service, low external reserves, and weak debt management capacity.
A debt ratio of more than 100 percent means a state owes more in liabilities than it has in assets. Click through to find out which states have the least amount of debt and which ones suffer from ...
Nigerian States by Estimated GDP, 2021 Nigerian States by GDP, 2010 The following table presents a listing of Nigeria 's 36 states ranked in order of their estimated total GDP in 2021 according to a 2022 report by BudgIT .
In 2012, Nigeria's external debt was an estimated $5.9 billion and N5.6 trillion domestic, putting total debt at $44 billion. [ 172 ] In April 2006, Nigeria became the first African country to fully pay off its debt owed to the Paris Club . [ 173 ]
Adamawa had an IGR of ₦8.65 billion in 2021. The state imported $25.02 million worth of goods between 2019 and 2021. It has a debt stock of ₦132.68 billion as of December 2021, ranking the 19th most indebted state in Nigeria and 2nd most indebted in the North-East. [30]