Nigeria’s Cost Of Debt Servicing Increased By 37.04% In Last Six Months – Report

The cost of servicing Nigeria’s debt increased to N941.99 billion at the end of June 2018.

The half year activity report released on Wednesday by the CBN revealed that total domestic debt outstanding at the end of June, 2018 stood at N12.2 trillion, representing an increase of N290.67 billion or 2.45 per cent, over N11.9 trillion in the corresponding period of 2017.

As a layman like mesujamba what i was able to picked from @BudgITng analysis of increment in Nigerian debt profile is that :
Without converting to present $rate our external debt is about $10b.
Converted to present rate $22b

— Abiodun Bello 🇳🇬 (@Abdul_A_Bello) October 30, 2018

The debt stock during the review period comprised FGN Bonds worth N8.9 trillion or 73.47 per cent, Nigerian Treasury Bills (NTBs) worth N2.9 trillion or 24.31 per cent and FRN Treasury Bonds of N150.99 billion or 1.24 per cent.

Others included FGN Sukuk worth N100.00 billion or 0.8 per cent, FGN Green Bond N10.69 billion or 0.09 per cent and FGN Saving Bonds of N8.52 billion or 0.07 per cent.

By the time GMB is done adding to the pile of Nigeria’s foreign debt, whoever succeeds him might find genuine intentions to liberalise forex hobbled by the spectre of a huge rise in the cost of servicing dollar-denominated debts assuaged only by an imperceptible uptick in exports

— Onye Ajuju (@OnyeAjuju) October 10, 2018

The Debt Management Office (DMO)  also released its new strategic plan  and the expiration of the 3rd Strategic Plan (2013 – 2017).