News

Debt Management Office Reveals Nigeria’s Debt Profile

Story Highlights
  • Nigeria owes the IMF $3.45 billion and owes Africa Growing Together Fund and African Development Fund $2.24 billion.

The Debt Management Office (DMO) has revealed Nigeria’s debt profile including the different agencies and organizations the country is owing.

According to the debt stock report recently released by the DMO, Nigeria took loans worth $31.98 billion from the International Monetary Fund (IMF) and African Development Bank (AfDB) Group.

It was gathered that Nigeria owes the IMF $3.45 billion and owes Africa Growing Together Fund and African Development Fund $2.24 billion.

The debt stock report shows that Nigeria has an outstanding $10.74 billion loan to be paid to the International Development Association (IDA) and International Bank for Reconstruction and Development (IBRD).

Nigeria’s Debt Profile

Debt Management Office Reveals Nigeria'S Debt Profile

The country also owes the Arab Bank for Economic Development in Africa, Islamic Development Bank (IDB); International Fund for Agricultural Development (IFAD) and European Development Fund (EDF) the sum of $298.12 million.

Other loans include China ($3.26 million), France ($502.38 million), Japan ($78.20 million), India ($37 million) and Germany ($193.26 million) totalling $4.07 million.

Meanwhile, Nigeria also holds $10.86 billion in Eurobonds and $300 million in diaspora bond.

Source
International Monetary Fund, IMF

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button
EveryEvery We would like to show you notifications for the latest news and updates.
Dismiss
Allow Notifications