Nigeria’s debt stock rose to N97.3tr in Q4 2023 – NBS

The National Bureau of Statistics (NBS) revealed on Tuesday that Nigeria’s public debt stock rose to N97.3 trillion in the fourth quarter of 2023.

The agency disclosed this in its Nigerian Domestic and Foreign Debt Report for Q4 2023 released in Abuja.

According to NBS, the figure was N9.43 trillion higher than the N87.91 trillion debt stock recorded in the third quarter of the same year.

It added that the public debt stock – external and domestic – rose by 10.73 percent on a quarter-on-quarter basis during the period.

The NBS put the country’s external debt at N38.22 trillion ($42.50 billion) in Q4 2023 while the domestic debt stood at N59.12 trillion ($65.73 billion).

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“However, the share of external debt to total public debt stood at 39.26 percent in Q4 2023, while domestic debt was recorded at 60.74 percent,” it added.

In a breakdown by states, the bureau said Lagos State recorded the highest domestic debt of N1.05 trillion in Q4 2023, followed by Delta with N373.41 billion.

Jigawa recorded the lowest domestic debt at N42.76 billion followed by Kebbi at N60.69 billion.

Similarly, Lagos State recorded the highest external debt with $1.24 billion followed by Kaduna State with $587.07 million.

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

By: Babajide Okeowo

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