Lagos, Kaduna Lead In $2.4bn Foreign Debt
• ‘Why Debt Instrument Was Moribund For 18 Yrs’
AFTER paying a total of $76.78 million for debt service in 2012, the total external debt stock of the 36 states and the Federal Capital Territory (FCT), Abuja, now stands at $2,384,178 million, according to official figures released by the Debt Management Office (DMO).
The Director-General of the DMO, Mr. Abraham Nwankwo, also noted that the market for debt instrument on the domestic front, especially bonds, was moribund for 18 years because the Military era didn’t subject itself to the discipline of the market.
AFTER paying a total of $76.78 million for debt service in 2012, the total external debt stock of the 36 states and the Federal Capital Territory (FCT), Abuja, now stands at $2,384,178 million, according to official figures released by the Debt Management Office (DMO).
The Director-General of the DMO, Mr. Abraham Nwankwo, also noted that the market for debt instrument on the domestic front, especially bonds, was moribund for 18 years because the Military era didn’t subject itself to the discipline of the market.
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