Home Business Nigeria’s external debt in March was $9.4bn — DMO

Nigeria’s external debt in March was $9.4bn — DMO

by Business News Report

Nigeria’s external debt stock profile stood at 9.4 billion dollars on March 31, 2015, the Debt Management Office (DMO) says. The information is contained on DMO’s website, showing the country’s debt stock profile on Monday. The figure shows a decrease of about 300 million dollars from 9.7 billion dollars that the country owed at Dec. 31, 2014.
A breakdown shows that the highest sum is owed the World Bank Group with 5.6 billion dollars owed International Development Association and 89.4 million dollars owed International Fund for Agricultural Development.
It further states that Nigeria owes African Development Bank (AfDB) 200 million dollars and 513.7 million dollars owed African Development Fund (ADF), a debt incurred through AfDB Group. Nigeria also owes Arab Bank Economic Development for Africa 4.4 million dollars, while its debts to European Development Fund and Islamic Development Bank are 75.1 million dollars and 19.6 million dollars respectively.
The record also shows that the country’s indebtedness through bilateral agreement to Exim Bank of China and French Development Agency are 1.2 billion dollars and 140.2 million dollars. It further states that Nigeria’s external debt stock through government’s issuance of Eurobond stood is 1.5 billion dollars

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