Nigeria’s public debt stock increases to ₦97.34trn in Q4 2023

News Agency Of Nigeria

March 27, 2024 9:50 AM

The report stated that Nigeria’s public debt stock, which included external and domestic debt, grew by 10.73% on a quarter-on-quarter basis.

External debt stood at ₦38.22 trillion (42.50 billion dollars) in Q4 2023, while domestic debt was ₦59.12 trillion (65.73 billion dollars)[proshareng]

Nigeria’s public debt stock increased from ₦87.91 trillion (114.35 billion dollars ) in the third quarter of 2023 to ₦97.34 trillion (108.23 billion dollars ) in the fourth quarter of 2023.

The National Bureau of Statistics (NBS) said this on Tuesday in its Nigerian Domestic and Foreign Debt Report for Q4 2023 released in Abuja.

The report said Nigeria’s public debt stock, which included external and domestic debt, grew by 10.73% on a quarter-on-quarter basis. It said that External debt stood at ₦38.22 trillion (42.50 billion dollars) in Q4 2023, while domestic debt was ₦59.12 trillion (65.73 billion dollars).

“However, the share of external debt to total public debt stood at 39.26% in Q4 2023, while domestic debt was recorded at 60.74%.’’

In a breakdown by states, the bureau said that Lagos State recorded the highest domestic debt of ₦1.05 trillion in Q4 2023, followed by Delta with ₦373.41 billion. The report showed Jigawa recorded the lowest domestic debt at ₦42.76 billion, followed by Kebbi at ₦60.69 billion.

In addition, it stated that Lagos state recorded the highest external debt with 1.24 billion dollars, followed by Kaduna state with 587.07 million dollars.

“Borno recorded the lowest external debt with 20.49 million dollars, followed by Yobe with 21.49 million dollars,” the NBS stated 87.91 trillion (114.35 billion dollars ) in the third quarter of 2023 to ₦97.34 trillion (108.23 billion dollars ) in the fourth quarter of 2023.

The National Bureau of Statistics (NBS) said this on Tuesday in its Nigerian Domestic and Foreign Debt Report for Q4 2023 released in Abuja. The report said Nigeria’s public debt stock, which included external and domestic debt, grew by 10.73% on a quarter-on-quarter basis.

It said that External debt stood at ₦38.22 trillion (42.50 billion dollars) in Q4 2023, while domestic debt was ₦59.12 trillion (65.73 billion dollars).

“However, the share of external debt to total public debt stood at 39.26% in Q4 2023, while domestic debt was recorded at 60.74%.’’

In a breakdown by states, the bureau said that Lagos State recorded the highest domestic debt of ₦1.05 trillion in Q4 2023, followed by Delta with ₦373.41 billion.

The report showed Jigawa recorded the lowest domestic debt at ₦42.76 billion, followed by Kebbi at ₦60.69 billion. In addition, it stated that Lagos state recorded the highest external debt with 1.24 billion dollars, followed by Kaduna state with 587.07 million dollars.

“Borno recorded the lowest external debt with 20.49 million dollars , followed by Yobe with 21.49 million dollars,” the NBS stated.

News Agency Of Nigeria