Nigeria’s public debt stock has increased from N42.84 trillion ($103.31 billion) in the second quarter of 2022 to N44.06 trillion ($101.91 billion) in the third quarter of 2022.
This was revealed by the National Bureau of Statistics (NBS) on Tuesday in its Nigerian Domestic and Foreign Debt Report for Q3 2022 released in Abuja.
The report said Nigeria’s public debt stock, which includes external and domestic debt, grew by 2.84 per cent in Q3 of 2022.
It said external debt stood at N17.14 trillion ($39.66 billion) in Q3 2022, while domestic debt was N26.91 trillion ($62.25 billion).
“However, the share of external debt to total public debt stood at 38.92 per cent in Q3 2022, while domestic debt was recorded at 61.08 per cent.’’
In addition, the report showed that the federal government’s share of domestic debt was 80.07 per cent in Q3 of 2022.
In a breakdown by states, the bureau said Lagos State recorded the highest domestic debt of N877.03 billion in the third quarter of 2022.
Lagos State is followed by Delta State with N272.61 billion domestic debt and Ogun with N241.78 billion.
The report showed Jigawa recorded the lowest debt at N44.40 billion, followed by Kebbi and Katsina at N60.13 billion and N62.37 billion.