The international payment data by the CBN showed that debt servicing gulped a total of $1.28bn in nine months of 2018.It was gathered that in the first quarter of 2019, a total of $354.6m was spent to service debts. The amount dropped to $252.3m in the second quarter.
In April, the CBN disclosed that a $44.1m was spent on debt service; it moved to $189.67m in May, the second highest amount spent on debt service by the apex bank in one month. The apex bank in its financial stability report explained that the consolidated domestic debt stock of the Federal Government in December 2018 was N12.44tn.
The financial stability report added, “The FGB Sukuk and Green Bond respectively accounted for 1.61 and 0.09 per cent of the total domestic debt stock. The FGN special bonds, savings bonds and Nigerian Treasury Bonds accounted for 1.61, 0.09 and 1.21 per cent, respectively .”
Just for servicing the debts o, not even for repayment Nigeria is in big shit under Buhari