NIGERIA’s public debt stock stood at 44.06 trillion naira ($101.91 billion) in Q3 2022 (Q3 2022), up 2.85% from 42.84 trillion naira registered in the second quarter of 2022.

The National Bureau of Statistics (NBS) stated this in its Q3 2022 Nigerian Internal and External Debt report.

The report noted that Nigeria’s public debt stock, which includes external and internal debt, increased from N42.84 trillion or $103.31 billion in the second quarter of 2022 to N44.06 trillion or $101.91 thousand. million in the third quarter of the same year.

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.

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, he noted that the ratio of external debt to total public debt stood at 38.91% in the third quarter of 2022, while internal debt was recorded at 61.08%.

In the state profile analysis, NBS said that Lagos posted the highest domestic debt in the period 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.

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