Federal and states governments debt stock data at the end of first quarter 2020 stood at N28.63 trillion.
National Bureau of Statistics (NBS) report for the month of July showed that further disaggregation of Nigeria’s total public debt showed that N9.99 trillion or 34.89% of the debt was external while N18.64 trillion or 65.11% of the debt was domestic.
Similarly, states and FCT domestic debt was put at N4.11 trillion with Lagos state accounting for 10.8 per cent of the total domestic debt stock while Yobe state has the least debt stock in this category with a contribution of 0.7 per cent.
The NBS report in another development said that in the first quarter of 2020, the nominal year on year growth rate for trade stood at negative 0.27 per cent, indicating a decrease of –5.09 per cent points when compared to the first quarter of 2019.
The nominal Gross Deposit Products growth of the manufacturing sector in the first quarter of was 28.47 per cent (year-on-year), or -7.97 per cent points lower than figures recorded in the corresponding period of 2019 which stood at 36.45 per cent but 2.18 per cent points higher than the preceding quarter rate of 26.29 per cent.
The Education sector growth rate, in Q1 2020, was 7.03 per cent (year-on-year), down by -2.61 per cent points from the growth of 9.64 per cent reported in the corresponding quarter of 2019, but down by –0.15 per cent points when compared to the growth rate of 7.18 per cent in the fourth quarter of 2019.
The non-oil sector within the period under review grew by 1.55 per cent in real terms, recording –0.93 per cent points lower when compared to the rate recorded in the same quarter of 2019.
