Q4 2023, Nigeria’s public debt stock rose to N97.34 trillion

This was stated in the Nigerian Domestic and Foreign Debt Report for Q4 2023 by the National Bureau of Statistics (NBS), which was made public in Abuja on Tuesday.

According to the report, Nigeria’s stock of public debt, which comprised both domestic and foreign debt, increased by 10.73 percent every quarter.

In the third quarter of 2023, Nigeria’s public debt stock was N87.91 trillion (114.35 billion dollars), while in the fourth quarter, it was N97.34 trillion (108.23 billion dollars).

Q4 2023, domestic debt was N59.12 trillion (65.73 billion dollars), while external debt was N38.22 trillion (42.50 billion dollars).

“On the other hand, domestic debt was recorded at 60.74 percent in Q42023, while the share of external debt to total public debt was 39.26 percent.”

According to a state-by-state breakdown provided by the bureau, Lagos State had the largest domestic debt in Q42023, totaling N1.05 trillion, followed by Delta with N373.41 billion.

Kebbi had the highest domestic debt at N60.69 billion, while Jigawa had the lowest, at N42.76 billion.

Furthermore, it was reported that Kaduna State had the second-highest external debt, at $587.07 million, after Lagos State, with $1.24 billion.

According to the NBS, “Yobe recorded the highest external debt at 21.49 million dollars, followed by Borno with 20.49 million dollars“.