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Current Research Journal of Economic Theory 3(1): 29-35, 2011 ISSN: 2042-485X Maxwell Scientific Organization, 2011 Received: August 31, 2010 Accepted: December 25, 2010 Published: February 28, 2011.

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External Debt in Nigeria averaged 19273.55 USD Million from 2000 until 2023, reaching an all time high of 43159.19 USD Million in the second quarter of 2023 and a record low of 3287.73 USD Million in the first quarter of 2007.

ing to the data, top 10 states which with the highest external debt stock are Lagos, Kaduna, Edo, Cross River, Bauchi, Rivers, Enugu, Ogun, Ekiti, and Kano states. Lagos State, Nigeria's commercial hub, recorded the highest external debt of $1.27 billion as of June 2022.

2.1. 2 History of Nigeria External Debt The origin of Nigeria external debt dates back to 1958, when a sum of US$ 28 million was used to finance the Nigerian Railways construction, Foreign borrowing was minimal between 1958 and 1977, but not the level that could be regarded as a burden to the country.

A break-down of the rising debt profile showed that Federal Government's external and domestic debts amounted to N8. 8 trillion or $57.030 billion as at the end of June 2014.

Beginnings of the external debt Nigeria's external debt (including short-term debts) remained low until the middle of the 1970s – US$ 1.5 billion in 1970, more than half of which was short term; and US$ 2.5 billion in 1975, of which US$ 1.35 billion represented short-term debts.

The Debt Management Office has disclosed that Nigeria's total foreign debt for the period ending March 31st, 2023, has risen to N49. 85 trillion ($108.30 billion) from N46. 25 trillion as of December 21st 2022. DMO revealed this in a statement released and shared on its Twitter handle on Friday evening.

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Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
All Forms
Search all Forms
Industries
Forms in Spanish
Localized Forms
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232