PUBLIC DEBT STOCK ROSE TO N97.34 TRILLION IN FOURTH QUARTER 2023, SAYS NBS

Nigeria’s public debt stock rose from N87.91 trillion (114.35 billion dollars ) in the third quarter of 2023 to N97.34 trillion (108.23 billion dollars) in the fourth quarter of 2023. The National Bureau of Statistics said this on Tuesday in its Nigerian Domestic and Foreign Debt Report for the 4th quarter in 2023 released in Abuja. The report said Nigeria’s public debt stock, which included external and domestic debt, grew by 10.73 percent every quarter.

It said that external debt stood at N38.22 trillion (42.50 billion dollars) in the 4th quarter of 2023, while domestic debt was N59.12 trillion (65.73 billion dollars). “However, the share of external debt to total public debt stood at 39.26 percent in 4th quarter 2023, while domestic debt was recorded at 60.74 percent.’’

In a breakdown by states, the bureau said that Lagos State recorded the highest domestic debt of N1.05 trillion in the 4th quarter of 2023, followed by Delta with N373.41 billion. The report showed Jigawa recorded the lowest domestic debt at N42.76 billion, followed by Kebbi at N60.69 billion.

In addition, it stated that Lagos state recorded the highest external debt with 1.24 billion dollars, followed by Kaduna state with 587.07 million dollars. “Borno recorded the lowest external debt with 20.49 million dollars, followed by Yobe with 21.49 million dollars,” the NBS stated.

Source: Punch