Nigeria’s public debt stock increased from N87.91 trillion ($114.35 billion) in the third quarter of 2023 to N97.34 trillion ($108.23 billion) in the fourth quarter of 2023.
The National Bureau of Statistics said this on Tuesday in its Nigerian Domestic and Foreign Debt Report for Q4 2023.
The report said Nigeria’s public debt stock, which included external and domestic debts, grew by 10.73 percent on a quarter on quarter basis.
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It said external debt stood at N38.22 trillion ($42.50 billion) in Q4 2023, while domestic debt was N59.12 trillion ($65.73 billion).
The report added: “However, the share of external debt to total public debt stood at 39.26 per cent in Q4 2023, while domestic debt was recorded at 60.74 per cent.”
In a breakdown by states, the bureau said Lagos State recorded the highest domestic debt of N1.05 trillion in Q4 2023, followed by Delta State with N373.41 billion.
The report showed Jigawa State recorded the lowest domestic debt at N42.76 billion, followed by Kebbi State at N60.69 billion.
In addition, it stated that Lagos State recorded the highest external debt with $1.24 billion, followed by Kaduna State with $587.07 million.
“Borno recorded the lowest external debt with $20.49 million, followed by Yobe with $21.49 million,” the NBS stated.
