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Public debt stock rises to N97.34tr in Q4 2023 – NBS
In the third quarter of 2023, Nigeria's public debt stock was N87.91 trillion (114.35 billion dollars), whereas in the fourth quarter, it was N97.34 trillion (108.23 billion dollars).
This was stated in the Nigerian Domestic and Foreign Debt Report for Q4 2023 by the National Bureau of Statistics, 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 on a quarterly basis.
According to the report, as of 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 breakdown by state, the bureau found that Delta had N373.41 billion in domestic debt in Q4 2023, while Lagos State had the largest debt at N1.05 trillion.
Jigawa has the lowest internal debt, according to the study, at N42.76 billion, followed by Kebbi at N60.69 billion.
Furthermore, it mentioned that Lagos State had the most external debt, coming in at 1.24 billion dollars, and Kaduna State came in second with 587.07 million dollars.
The NBS said that Borno has the lowest external debt, at $20.49 million, followed by Yobe, at $21.49 million.