Nigeria’s debt servicing cost rise by 37.04% in six months

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

The Central Bank of Nigeria revealed in its half year activity report that the growth was by 37.04 percent compared to N687.37 billion obtained in 2017.

The review also showed that Nigeria’s total domestic debt stood at N12.2 trillion, representing an increase of 2.45 per cent.

And the Debt stock comprised 73.47 per cent of the FGN Bonds, Nigerian Treasury Bills worth 24.31 per cent, FRN Treasury Bonds worth 1.24 per cent, FGN Green Bond has 0.09 per cent and FGN Saving Bonds takes 0.07 per cent of the total Domestic debt.

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