The United States is the most indebted nation in the world.
The U.S Treasury Department just released a breakdown of foreign debt holdings of its $13.4 trillion Treasuries market, by oil producing nations including Nigeria.
The data shows that Nigeria owns $3.1 billion in U.S Treasury debt as of March 2016.
Saudi Arabia was the largest holder with $116.8 billion.
This ranks Saudi Arabia among the top dozen foreign nations in terms of holdings of U.S. debt, and compares with China’s $1.2 trillion, and $1.1 trillion for Japan.
The U.S Treasury market is the deepest and largest in the world and countries often buy American debt in a bid to manage their foreign exchange holdings.
The post above and its ensuing comments, if any, is purely the opinion of the writer(s). It therefore should never be considered as an investment advise of any sort. If required, readers should please consult a competent professional financial adviser for any investment decision.