September 17, (THEWILL) – Nigeria’s public debt stock increased from N49.85 trillion (108.30 billion dollars) in the first quarter of 2023 to N87.38 trillion (113.42 billion dollars) in the second quarter of 2023.
The report said Nigeria’s public debt stock, which included external and domestic debt, grew by 75.27 percent in Q2 of 2023.
It said that External debt stood at N33.25 trillion (43.16 billion dollars) in Q2 2023, while domestic debt was N54.13 trillion (70.26 billion dollars).
“However, the share of external debt to total public debt stood at 38.05 percent in Q2 2023, while domestic debt was recorded at 61.95 percent.’’
In a breakdown by State, the bureau said that Lagos State recorded the highest domestic debt of N996.44 billion in Q2 2023, followed by Delta at N465.40 billion.
The News Agency of Nigeria (NAN) said that the report showed Jigawa recorded the lowest domestic debt at N43.13 billion, followed by Kebbi at N60.94 billion.
In addition, it stated that Lagos State recorded the highest external debt with $1.26 billion, followed by Kaduna State with $569.38 million.
“Borno recorded the lowest external debt with $18.75 million, followed by Taraba with $21.92 million,” the NBS stated.
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