In the second quarter of 2022, Nigeria’s public debt stock was N42.84 trillion (103.31 billion dollars); in the third quarter, it was N44.06 trillion (101.91 billion dollars).
This was stated in the Nigerian Domestic and Foreign Debt Report for Q3 2022, which the National Bureau of Statistics (NBS) released on Tuesday in Abuja.
According to the report, Nigeria’s public debt stock—which includes both domestic and foreign debt—grew by 2.84 percent in the third quarter of 2022.
According to the report, domestic debt was N26.91 trillion and external debt was N17.14 trillion (or 39.66 billion dollars) as of the third quarter of 2022. (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. (NAN)
