Stacks of US fifty and one hundred dollar bills in money bag

Debt Management Office, DMO said in Abuja yesterday that Nigeria’s external debt stock profile stood at 9.4 trillion U.S. dollars as at March 31, 2015.
This is contained in a statement published on DMO’s website, which shows the country’s debt stock profile.
The figure shows a decrease of about 300 million dollars from the 9.7 trillion dollars that the country had as its debt stock as at Dec. 31, 2014.
A breakdown shows that Nigeria owed the highest amount to the World Bank Group, with a debt profile of 5.6 trillion dollars to the bank’s International Development Association and 89.4 million dollars to the International Fund for Agricultural Development.
According to the DMO, Nigeria owed African Development Bank, AfDB, 200 million dollars and 513.7 dollars to African Development Fund, ADF, a debt incurred through AfDB Group.
Similarly, Nigeria’s indebtedness to Arab Bank of Economic Development for Africa stood at 4.4 million dollars, while its debts to European Development Fund and Islamic Development Bank were 75.1 million dollars and 19.6 million dollars respectively.
The debt profile also shows that the country’s indebtedness through bilateral agreement to Exim Bank of China and French Development Agency were 1.2 trillion dollars and 140.2 million dollars respectively.
It further said that Nigeria’s external debt stock through government’s issuance of Eurobond stood at a balance of 1.5 trillion dollars.

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