HL Deb 30 March 1981 vol 419 cc105-6WA
Lord Barnby

asked Her Majesty's Government:

What is the amount of Nigeria's outstanding debt:

  1. (1) to the United Kingdom Government; and
  2. (2) in registered debts to private companies and individuals in the United Kingdom.

Lord Trefgarne

Current payments due to Her Majesty's Government include:—

1. (a) claims paid by the Export Credit Guarantee Department and outstanding for recovery as at December 1980 total £38.592 million; while claims under examination as at February 1981 total £14.115 million. This compares with an annual average volume of ECGD cover for Nigeria of about £1.1 billion;

(b) the current outstanding balance of repayment of capital on development aid loans stands at £13.108 million; repayments (which ate being made on schedule) will be completed by 1993.

2. No comprehensive figures are available for payments owing to private individuals. But normal current lending of United Kingdom Registered Banks including their overseas subsidiaries and branches) in sterling and foreign currency amounted to 755 million dollars as at June 1980. This figure would include any arrears.