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Economic Confidential,
August 2008
FACTS AND FIGURES
EXTERNAL LOANS AND SERVICES
BY FEDERAL GOVERNMENT AND STATES
OUTSTANDING EXTERNAL DEBT STOCK
AND SERVICING FROM THE FEDERATION
ACCOUNT
In a table of figures provided by the
monthly Nigeria’s economic news journal, the Economic
Confidential, it is revealed that out of $3.65bn of External
Debt Stock, $2.11bn or 57.86% was owed by the Federal Government,
while the remaining $1.53bn or 42.12% was owed by states and FCT.
Only the FG owed the Non-Paris Club creditors amounting to $573.3m.
States and FCT were only indebted to multilateral creditors. Lagos
State has the highest indebtedness with $243mn followed by Oyo State
$108mn, Cross River $94mn and Kaduna $93mn. The least indebted
states are FCT with $12mn, Borno $13.5mn and Zamfara $13.6mn. The
full details are in the table below which also includes Actual
External Debt Service Deduction by states from the Federation..
|
FEDERAL AND STATE
GOVERNMENTS EXTERNAL DEBT STOCK AS AT 31st
DECEMBER 2007 (US$) |
GROSS FAAC ALLOCATION AND ACTUAL
EXTERNAL DEBT SERVICE DEDUCTION BY STATES, 2007 (US$
MILLION) |
|
S/No |
States |
Multilateral 2007 |
Share |
Gross FAAC Allocation |
Actual External Debt Service Deductions |
External Debt Service as % of Gross FAAC Allocation
|
States |
|
1 |
Abia |
20,371,009.91 |
0.56 |
153,863,415.41 |
2,449,729.39 |
1.59 |
Abia |
|
2 |
Adamawa |
19,655,860.75 |
0.54 |
171,636,261.56 |
2,659,459.79 |
1.55 |
Adamawa |
|
3 |
Akwa Ibom |
60,059,019.31 |
1.64 |
169,521,660.89 |
9,965,678.38 |
5.88 |
Akwa Ibom |
|
4 |
Anambra |
15,192,742.50 |
0.42 |
171,857,486.90 |
4,287,342.83 |
2.49 |
Anambra |
|
5 |
Bauchi |
69,105,544.56 |
1.89 |
193,658,337.83 |
7,567,883.68 |
3.91 |
Bauchi |
|
6 |
Bayelsa |
22,292,252.93 |
0.61 |
133,350,419.16 |
2,445,220.13 |
1.83 |
Bayelsa |
|
7 |
Benue |
16,781,480.20 |
0.46 |
185,194,174.35 |
2,245,643.40 |
1.21 |
Benue |
|
8 |
Borno |
13,567,690.30 |
0.37 |
196,590,021.51 |
2,215,688.80 |
1.13 |
Borno |
|
9 |
Cross River |
94,445,030.08 |
2.58 |
160,754,155.27 |
16,723,997.37 |
10.40 |
Cross River |
|
10 |
Delta |
24,169,665.99 |
0.66 |
171,697,139.72 |
9,715,622.84 |
5.66 |
Delta |
|
11 |
Ebonyi |
23,217,583.94 |
0.64 |
145,219,989.00 |
2,257,502.23 |
1.55 |
Ebonyi |
|
12 |
Edo |
33,312,069.85 |
0.91 |
170,824,645.40 |
9,897,375.10 |
5.79 |
Edo |
|
13 |
Ekiti |
32,710,380.52 |
0.90 |
144,413,769.07 |
637,227.63 |
0.44 |
Ekiti |
|
14 |
Enugu |
23,898,266.09 |
0.65 |
159,789,159.80 |
5,635,306.83 |
3.53 |
Enugu |
|
15 |
FCT |
12,203,219.03 |
0.33 |
- |
- |
- |
FCT |
|
16 |
Gombe |
14,272,330.85 |
0.39 |
147,006,109.74 |
892,503.53 |
0.61 |
Gombe |
|
17 |
Imo |
43,929,283.48 |
1.20 |
169,371,381.32 |
7,331,500.14 |
4.33 |
Imo |
|
18 |
Jigawa |
15,802,628.15 |
0.43 |
188,060,398.14 |
1,593,208.81 |
0.85 |
Jigawa |
|
19 |
Kaduna |
93,154,607.10 |
2.55 |
210,396,254.58 |
3,288,317.05 |
1.56 |
Kaduna |
|
20 |
Kano |
39,798,039.80 |
1.09 |
255,931,516.80 |
3,738,667.21 |
1.46 |
Kano |
|
21 |
Katsina |
69,641,757.08 |
1.91 |
200,676,406.99 |
1,791,055.04 |
0.89 |
Katsina |
|
22 |
Kebbi |
41,109,744.92 |
1.12 |
166,883,573.38 |
2,710,697.68 |
1.62 |
Kebbi |
|
23 |
Kogi |
30,880,873.54 |
0.85 |
167,383,542.50 |
3,388,747.62 |
2.02 |
Kogi |
|
24 |
Kwara |
24,524,710.30 |
0.67 |
152,389,451.78 |
1,314,470.08 |
0.86 |
Kwara |
|
25 |
Lagos |
243,283,449.01 |
6.66 |
241,852,443.30 |
19,028,599.83 |
7.87 |
Lagos |
|
26 |
Nassarawa |
24,756,398.00 |
0.68 |
144,177,455.25 |
10,162,796.68 |
7.05 |
Nassarawa |
|
27 |
Niger |
27,680,878.61 |
0.76 |
193,885,144.07 |
10,874,754.52 |
5.61 |
Niger |
|
28 |
Ogun |
38,902,315.82 |
1.06 |
163,314,020.09 |
5,175,059.32 |
3.17 |
Ogun |
|
29 |
Ondo |
40,343,968.06 |
1.10 |
160,508,181.31 |
6,427,243.43 |
4.00 |
Ondo |
|
30 |
Osun |
53,173,678.75 |
1.46 |
156,957,877.68 |
5,253,572.28 |
3.35 |
Osun |
|
31 |
Oyo |
108,924,820.05 |
2.98 |
195,889,654.99 |
17,326,002.73 |
8.84 |
Oyo |
|
32 |
Plateau |
34,480,976.05 |
0.94 |
167,052,900.81 |
6,467,092.65 |
3.87 |
Plateau |
|
33 |
Rivers |
30,986,282.13 |
0.85 |
184,788,020.86 |
6,346,204.14 |
3.43 |
Rivers |
|
34 |
Sokoto |
32,691,825.73 |
0.89 |
176,776,307.52 |
1,993,192.72 |
1.13 |
Sokoto |
|
35 |
Taraba |
18,860,044.01 |
0.52 |
165,214,997.11 |
1,687,651.78 |
1.02 |
Taraba |
|
36 |
Yobe |
18,151,992.23 |
0.50 |
160,549,812.22 |
3,287,492.17 |
2.05 |
Yobe |
|
37 |
Zamfara |
13,602,602.69 |
0.37 |
166,394,047.00 |
892,164.91 |
0.54 |
Zamfara |
|
|
TOTAL |
1,539,935,022.30 |
42.14 |
6,263,830,133.30 |
199,674,672.74 |
|
TOTAL |
|
38 |
*FGN |
*2,114,274,101.40 |
57.86 |
- |
- |
|
FGN |
|
|
Grand Total |
3,654,209,123.70 |
100.00 |
6,263,830,133.30 |
199,674,672.74 |
100.00 |
Grand Total |
|
|
|
|
|
|
|
|
|
|
*FGN’s total of $2,114,274,101.40
comprises of its multilateral $1,540,970,099.50 and Non-Paris and
other commercial which stands at $573,304,001.90.
This table is created by the
Economic Confidential from the latest Annual Report of the
Debt Management Office (DMO) obtained by the journal.
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