The statistic shows the national debt of Nigeria from 2016 to 2019, with projections up until 2026. In 2019, the national debt of Nigeria amounted to around 102.98 billion U.S. dollars.
How much is Nigeria debt 2021?
The Debt Management Office (DMO) says Nigeria’s Public Debt Stock is N33. 107 trillion (about 87.239 billion dollars), as at March 31, 2021.
What is the current debt profile of Nigeria?
The Total Public Debt Stock which comprises of the Debt Stock of the Federal Government of Nigeria (FGN), thirty-six (36) State Governments and the Federal Capital Territory (FCT) stood at N33. 107 trillion or USD87. 239 billion. The Debt Stock also includes Promissory Notes in the sum of N940.
How much is Nigeria’s debt?
Economy of Nigeria
|Gross external debt||$85.9 billion (31 December 2020 est.)|
|Public debt||25.6% of GDP (2020 est.)|
|Budget balance||$5.2 billion; 1% of GDP (2014)|
How much is rich in Nigeria?
Above should cost you recurrent expenditure of about N10M a year. Capital cost about N15M a year. You should be able to survive 45years living in Nigeria with N550,000,000.00. You would be considered wealthy* in Nigeria.
How much does Nigeria spend on debts?
Debt servicing obligations gulped 97 percent of the Nigerian government’s total revenue in 2020, a report has shown. According to BudgIT, a civic-tech non-profit organisation, of the N3. 42 trillion generated as revenue, Nigeria expended N3. 34 trillion on debt servicing.
Did Nigeria borrow money from China?
Nigeria owed China $3.402 billion as of March 31, according to the Debt Management Office. The amount covers 11 loan facilities from the China Exim Bank since 2010.
Is Nigeria owing China?
Nigeria spent $195.5 million to pay its debt to China in 2020, or about 12.6% of the $1.6 billion it spent servicing all its external debt.
How much is Nigeria owing the World Bank?
DMO: Nigeria owes World Bank, IMF, AfDB $31.98bn.
How much is China’s debt?
China’s National Institution for Finance and Development (NFID), a government-linked think tank, put the nation’s overall debt at 270.1 per cent of gross domestic product (GDP) at the end of 2020, up from 246.5 per cent at the end of 2019.