NIGERIA OWES CHINA $3.22BN

NIGERIA OWES CHINA $3.22BN —NBS.

The Federal Government of Nigeria’ indebtedness to China stood at $3.22bn at the end of December 2016, according to a report released on Tuesday by the National Bureau of Statistics (NBS).

This is part of the total foreign debt stock of both the federal and state government which was put at $11.41bn by the bureau.
The domestic debt of the two tiers of government stood at N14.02trn at the end of December 2016.

A breakdown of the foreign debt shows that $7.99bn was multilateral; $198.25m was bilateral (ADB) and $3.22bn from the Exim Bank of China credited to the Federal Government.

According to the report, “Total FGN debt accounted for 68.72 per cent of Nigeria’s total foreign debt while all the states and the Federal Capital Territory (FCT) accounted for the remaining 31.28 per cent.
“Similarly, total FGN debt accounted 78.89 per cent of Nigeria’s total domestic debt while all states and the FCT accounted for the 21.11 per cent balance.”

The report added that of the Federal Government’s domestic debt, N7.56 trillion or 68.41 per cent are in Federal Government bonds, N3.28 trillion or 29.64 per cent are in treasury bills and N215.99 million or 1.95 per cent are in treasury bonds.

It stated further that “Lagos State has the highest foreign debt profile among the 36 states and the FCT, accounting for 38.70per cent, while Kaduna (6.25 per cent), Cross River (3.22 per cent) and Ogun (2.90 per cent) follow closely.”

The report also showed that Lagos State has the highest domestic debt profile among the states accounting for 10.54 per cent of the debt stock.

Comments

Assured beauty! Davido's boo Chioma Rowland shares beautiful new photos

Chioma is out here serving some serious beauty goals and we are here for it! Davido's girlfriend, Chioma Avril Rowland is still trending on social media as the lady of the hour. Just recently, Davido announced that she got a multi-million endorsement deal for her own cooking show. Well, not only is she an amazing chef, Chioma is also a beauty to behold. Little wonder why Davido can't see any other woman except her. She recently shared stunning new photos of herself on her Instagram page. From these photos, it is clear to see that the beautiful 23-year-old prefers a rather toned down look as she rocked the skin light makeup elegantl

Buhari should address Nigerians to douse tension – AIED

A non-governmental organization, Advocacy for Integrity and Economic Development (AIED), has implored President Muhammadu Buhari to address the nation in a live and interactive broadcast to douse tension across the country over the state of his health. In a statement signed by its Director of Research &Publicity, Comrade O’Seun John, the group stated that the request has become expedient in light of rumours and counter rumours ranging from incapacitation, disorientation and even death. According to AIED, the cacophony of defenses, which more than often have turned out to be false, is doing more harm than good to waning goodwill left in the Buhari’s administration. AIED said: “Today, the fragile fabric of peace and unity of our great country, Nigeria, is on the vestiges of ruin. The continuous non-appearance of President Muhammadu Buhari from sworn duties and the reports of cabal infiltration of the seat of power is not only worrisome but negates the tenets of democratic rul

Nigeria will face troubles if Buhari dies

A Pentecostal Bishop, Rt. Rev. Seun Adeoye, has called on all Nigerians to double their prayers for the quick recovery of President Muhammadu Buhari. The Bishop said he sees trouble in Nigeria if Buhari dies. He warned that if anything should happen to Buhari Nigeria will fall into wrong hands that were ready to do anything to turn it into their private estates. The cleric spoke during the 1st Episcopal Honours and Gallantry Awards held at Sufficient Grace and Truth Ministry, Rehoboth Arena, Okinni, Osun State. He noted that only God can sustain the President’s health. He said, “I see trouble should anything go wrong with President Buhari. So, we need to pray for his quick recovery from this ailment. Buhari must not die; Buhari must live and that should be our prayers. If Buhari is not the president, we will be faced with more lies and propaganda where we are going to be made to call black white. Rule of law will turn to be rule of fear and democracy will be replaced by d

Zxpress

Search This Blog