Nigeria, Feb. 20 -- The conversion relied on the official Central Bank of Nigeria rate of N1,474.85 to the dollar at the conclusion of the review year.

Domestic borrowing makes up most of the country's debt profile right now, the statistics reveal. Representing 46.63 percent of the total, external debt stood at $48.46 billion, or N71.48 trillion. About N81.82 trillion, or 53.37 percent, domestic debt climbed to 55.47 billion dollars.

At N61.9 trillion, or around 80% of local debt, the federal government of Nigeria bonds make up the majority of the domestic portfolio. N12.68 trillion is Treasury Bills, whereas Sukuk bonds total N1.29 trillion. N60.64 trillion of naira bonds make up the domestic category; dollar-denominated local bonds c...