Business

Nigeria’s Debt Hits N28. 63tr

Published

5 years ago

July 10, 2020

Nigeria’s total debt portfolio stands at N28.63trillion as at 31st March 2020, the National Bureau of Statistics has disclosed it.

Its website report titled “Nigeria domestic and foreign debt first quarter 2020,” said in the period under review, the country’s domestic debt hits N18. 64 trillion, representing 65.11 percent of the entire debt profile.

NBS said: “Nigerian States and Federal Debt Stock data as at 31st March 2020 reflected that the country’s total public debt portfolio stood at N28.63trn.

“Further disaggregation of Nigeria’s total public debt showed that N9.99trn or 34.89% of the debt was
external while N18.64trn or 65.11% of the debt was domestic.

“N18.64trn or 65.11% of the debt was domestic. Nigerian States and Federal Debt Stock data as at 31st March 2020 reflected that the country’s total
public debt portfolio stood at N28.63trn.”

According to the report, States and FCT domestic debt was put at N4.11trillion with Lagos state accounting for 10.8 percent of the total domestic debt stock while Yobe State has the least debt stock in this category with a contribution of 0.7 percent.

The Bureau explained the highlights of Nigerian Domestic and Foreign Debt – Q4 2019.

It contained the Domestic Debt Stock for 28 States: Abia, Adamawa, Akwa Ibom, Bauchi, Bayelsa, Benue, Cross River, Delta, Ebonyi, Edo, Ekiti, Enugu, Gombe, Imo, and the Domestic Debt Stock Figures for six States: Anambra, Borno, Kano, Kebbi, Lagos and Zamfara were as at December 31, 2019.

The report also announced the Domestic Debt Stock Figures for Rivers State were as at December 30, 2018
Jigawa, Kaduna, Kogi, Kwara, Nasarawa, Niger, Ogun, Ondo, Osun, Oyo, Plateau, Sokoto, Taraba, Yobe and the FCT as at March 31, 2020.

NBS said the report explained the Domestic Debt Stock Figures for Katsina State were as at June 30, 2019

(Credit The Nation.)

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Business

TAJBank Emerges Nigeria’s Biggest Non-Interest Bank

Published

1 week ago

October 23, 2025

The Gleamer

Cyril Ogar

After five years of operations in Nigeria’s rapidly evolving non-interest banking (NIB) space, TAJBank Limited has become the biggest player in the NIB subsector based on its total assets and gross earnings values.

Disclosing this during his paper presentation on the key performance indices in the non-interest banking space over the past few years at a seminar organized by Leaders Corporate Services with the theme “Roles of Non-Interest Banks In SMEs’ Financing” for SME entrepreneurs yesterday in Abuja, an investment expert, Mr. Olabode Akeredolu-Ale, maintained that based on the non-interest banks’ approved financial statements for the half year 2025, TAJBank currently remained the biggest in terms of its total assets.

The expert, a chartered stockbroker, specifically confirmed that his recent investment researches on the NIBs and their financial performances showed that TAJBank, with its total assets rising to N1.017 trillion in half year 2025 up from N953.098 billion as of December 2024, which is about N53 billion higher than the nearest NIB’s assets, now ranked top in the banking subsector.

According to him, TAJBank’s gross earnings for H1 2025 also surged to N53.752 billion from N32.86 billion as of December 2024, representing a 64% growth, and higher than the nearest NIB’s gross earnings in the period under review.

This is even as he disclosed that on the NIBs’ earnings per share during the half year, TAJBank reported N61.36 kobo earnings per share, about 92% higher than the earnings per share of the next NIB during the period.

Akeredolu-Ale, who is also a chartered accountant, clarified: “The figures I am reeling out here on the NIBs are sourced from the banking and capital market regulatory institutions’ platforms, which anyone can access to verify.

“I am part of this event because of my research interest in non-interest banking and how the players in the subsector in Nigeria can help to leverage their competencies in innovation and ethical banking to support our MSMEs.

“Today, the MSMEs cannot access DMBs’ loans due to high lending rates and other inclement macroeconomic factors. This is where I think the NIBs have become very crucial to Nigeria’s economic growth.

“Overall, my findings on the NIBs indicated that they are all trying their best with non-interest loans to support entrepreneurs, particularly the MSMEs owners. I have advised those of them at this seminar to explore the cost-friendly financing options of the NIBs to grow their businesses by opening accounts with the NIBs”, the expert added.

Another speaker at the event, Benjamin Chukwudi, also commended the NIBs for their “catalytic roles in helping SMEs to access interest-free loans and providing them the needed financial management advisory, which have been helping them in sustaining their operations in the face of rising cost of doing business in the country.”

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