DMO: Nigeria’s external debt in March was $9.4bn

Nigeria’s external debt stock profile stood at $9.4 billion on March 31, 2015, the Debt Management Office (DMO) has revealed.
The information is contained on DMO’s website, showing the country’s debt stock profile on Monday.
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 International Development Association and $89.4 million owed International Fund for Agricultural Development.
It further states that Nigeria owes African Development Bank (AfDB) $200 million and $513.7 million owed African Development Fund (ADF), a debt incurred through 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 states that Nigeria’s external debt stock through government’s issuance of Eurobond stood is $1.5 billion.