Nigeria’s public debt stock hits N97.34trn in Q4 2023

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 (NBS) disclosed this in its Nigerian Domestic and Foreign Debt Report for Q4 2023 released on Tuesday, March 26, 2024.

The NBS said Nigeria’s public debt stock, which included external and domestic debt, grew by 10.73 per cent on a quarter-on-quarter basis.

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).

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“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,” it added.

In a breakdown by states, the bureau noted that 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.

The NBS stated that Lagos State recorded the highest external debt with $1.24 billion, followed by Kaduna State with $587.07 million.

The NBS said Borno State recorded the lowest external debt with $20.49 million, followed by Yobe State with $21.49 million.

The Star