The Debt Management Office has revealed the external debt stock profile of Nigeria as at March 31, 2015.
According to the figures released on DMO’s website, the country is indebted to the tune of $9.4 billion externally.
The figure shows a decrease of about $300 million from $9.7 billion that the country owed at December 31, 2014.
A breakdown shows that the highest sum is owed the World Bank Group with $5.6 billion owed the International Development Association and $89.4 million owed the International Fund for Agricultural Development.
It further stated that Nigeria owes the African Development Bank $200 million and $513.7 million owed the African Development Fund, a debt incurred through the AfDB Group.
Nigeria also owes Arab Bank Economic Development for Africa $4.4 million, while its debts to European Development Fund and Islamic Development Bank are $75.1 million and $19.6 million respectively.
The record also shows that the country’s indebtedness through bilateral agreement to Exim Bank of China and French Development Agency are $1.2 billion and $140.2 million.
It further stated that Nigeria’s external debt stock through government’s issuance of Eurobond stood at $1.5 billion.
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