That claim does not reflect the true state of Nigeria’s external debt. What is Nigeria’s external debt rate? According to Nigeria’s Debt Management Office latest report released in June 2019, the country’s total debt stock is $83.883 billion, made up of $27.163 billion of external debt and $56.720 billion domestic debt. It is therefore not correct to say that Nigeria’s external debt alone is $81.274 billion. This took Nigeria’s total debt to US$73.2 billion, using the Central Bank of Nigeria’s 2018 exchange rate of N305 to the dollar.

Source: The Guardian December 30, 2019 16:30 UTC