By Oladimeji Suleiman.
Domestic debt is the part of the total government debt in a country that is owed to lenders within the country, commercial banks, and other financial institutions.
Official documents obtained from government sources showed a total domestic debt of Kwara state at a sum of N63,045,912,989.77 as at December, 31st, 2019, corroborating the figure at DMO.
Meanwhile, another official document obtained from the State Public source, detailing the components of the domestic loan revealed otherwise.
In the documents, it was stated that as at 31st, December, 2019, Kwara State govt has a domestic debt as follows;
1. CBN/FGN Restructured Commercial Loan to Bond N16,045,153,582.53
2. CBN/FGN salary bailout FG (Bond) N4,320,950,000.00
3. Sterling Bank (ECA) N5,000,000,000.00
4. GTBank (ECA) N5,000,000,000.00
5. Anchor Borrower Agriculture Scheme N1,000,000,000.00
6. CBN/Commercial Agric Scheme 1 N1,000,000,000.00
7. Small and Medium Enterprise Development Fund N2,000,000,000.00
8. Budget Support (CBN) N17,569,000,000
This makes a total sum of N51,935,103,582.53 showing a discrepancy of about N11,110,809,407.24.
A huge figure of N11Billion shouldn’t be hiding in a hole like rat, it is my hope that a little smoke will push it out.