In the third quarter of 2023, Nigeria’s public debt stock was N87.91 trillion (114.35 billion dollars), whereas in the fourth quarter, it stood at N97.34 trillion (108.23 billion dollars).
This was stated in the Nigerian Domestic and Foreign Debt Report for Q4 2023 by the National Bureau of Statistics, which was made public in Abuja on Tuesday.
According to the report, Nigeria’s stock of public debt, which comprised both domestic and foreign debt, increased by 10.73 percent on a quarterly basis.
The report reviewed that the Q4 of 2023, domestic debt was N59.12 trillion (65.73 billion dollars), while external debt was N38.22 trillion (42.50 billion dollars).
On the other hand, domestic debt was recorded at 60.74 percent in Q4 2023, while the share of external debt to total public debt was 39.26 percent.
According to the bureau’s breakdown by state, Lagos State had the greatest internal debt in Q4 2023, coming in at N1.05 trillion, followed by Delta with N373.41 billion.
The report stated that Kebbi had the highest domestic debt at N60.69 billion, while Jigawa had the lowest, at N42.76 billion.
Furthermore, it was reported that Kaduna state has the second-highest external debt, at $587.07 million, after Lagos state, with $1.24 billion.
“Borno recorded the lowest external debt with 20.49 million dollars , followed by Yobe with 21.49 million dollars,” according to the NBS.
cc: Punch Ng
