Nigeria’s public debt stock stood at N44.06 trillion ($101.91 billion) in the third quarter of 2022, the National Statistics Office has said.

The bureau, in its Q3 2022 Nigerian Domestic and External Debt report released on Monday, said Nigeria’s public debt stock, which includes foreign and domestic debt, increased from N42.84 trillion or $103.31 thousand. million in the second quarter of 2022 to N44.06 trillion or $101.91 billion in the third quarter of the same year.

The NBS said the figure shows that national currency government debt grew 2.84 percent in the period.

The data showed that the debt figure comprised the stock of debt of the federal government, the 36 state governments and the Federal Capital Territory.

READ ALSO: Nigerian federal, state and local governments share N2,054tn in Q3 2020

The report said external debt stood at N17.14 trillion or $39.66 billion, while domestic debt was N26.91 trillion in the quarter under review.

However, the statistics office said that the ratio of external debt to total public debt stood at 38.91% in the third quarter of 2022, while internal debt stood at 61.08%. .

state performance

In the state profile analysis, he said that Lagos recorded the highest domestic debt in Q3 2022 at N877.03 billion, followed by Delta at N272.61 billion and Ogun at N241.78 billion.

“The lowest debt was recorded in Jigawa at N44.40 billion, followed by Kebbi and Katsina at N60.13 billion and N62.37 billion respectively,” it said.

Support PREMIUM TIMES journalism of integrity and credibility

Good journalism costs a lot of money. However, only good journalism can guarantee the possibility of a good society, a responsible democracy and a transparent government.

For continued free access to the best investigative journalism in the country, we ask that you consider making a modest support for this noble effort.

By contributing to PREMIUM TIMES, you are helping to keep journalism relevant and ensuring that it remains free and available to everyone.


TEXT AD: Call Willie – +2348098788999

PT Mag campaign ad