President Muhammadu Buhari
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).
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.