Nigeria’s Public Debt Rises To N44.06trn In Q3 – NBS

Nigeria’s public debt stock increased from N42.84 trillion (103.31 billion dollars) in the second quarter of 2022 to N44.06 trillion (101.91 billion dollars) in the third quarter of 2022.

The National Bureau of Statistics (NBS), said this 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 that External debt stood at N17.14 trillion (39.66 billion dollars) in Q3 2022, while domestic debt was N26.91 trillion (62.25 billion dollars).

“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 that Lagos State recorded the highest domestic debt of N877.03 billion in the third quarter of 2022.

It was followed by Delta with N272.61 billion 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.