Debt Portfolio
NGF, FRC to collaborate to promote fiscal responsibility in states
The Nigeria Governors Forum (NGF) and Fiscal Responsibility Commission (FRC) on Thursday met to discuss potential opportunities for collaboration towards promoting fiscal responsibility at the sub-national level. Only 18 states so far have been able to dometicate the fiscal responsibility law in their domains. The Chairman of FRC, Victor Muruako, on his remarks stressed that it was imperative to encourage states to adopt fiscal responsibility into law. He expressed believe that the way to start is to is to begin at regional basis before encouraging other states to key in. Muruako said for now, the Commission has been engaging with states by providing technical assistance. He, however, said collaboration with NGF, will ensure the study of fiscal responsibility is taken to the grassroots. Th...
NBS: Nigerian government, states’ debt profile rise to N32.92 trillion
Nigeria’s total public debt portfolio as at December 31, 2020, stood at N32.92 trillion, the National Bureau of Statistics (NBS) reveals. It made the revelation in its Nigerian Domestic and Foreign Debt report for Quarter Four, 2020, obtained from its website on Monday in Abuja. It added that the debt profile was for the States and the Federal Government. According to the bureau, Nigeria’s total public debt showed that N12.71 trillion or 38.60 per cent of the debt was external, while N20.21 trillion or 61.40 per cent of the debt was domestic. “Further disaggregation of Nigeria’s foreign debt showed that 17.93 billion dollars of the debt was multilateral, 4.06 billion dollars was bilateral from the African Development Bank (AfDB), Exim Bank of China, Japan International Cooperation Agency (...
