Nigeria’s public debt stock, which includes external and domestic debt has increased to N44.06 trillion (US$101.91 billion) in Q3 2022 from N42.84 trillion (US$ 103.31 billion) in Q2 2022.
TheNewsGuru.com (TNG) reports this shows that public debt, in national currency, grew by 2.84% in Q3 2022.
While external debt stood at N17.14 trillion (US$39.66 billion) in Q3 2022, domestic debt was N26.91 trillion (US$62.25billion), according to data released by the National Bureau of Statistics (NBS) on Friday.
However, according to the data released by the NBS, the share of external debt to total public debt stood at 38.92% in Q3 2022, while domestic debt was recorded at 61.08%.
“In addition, the Federal Government’s share of domestic debt was 80.07% in Q3 2022.
“On state profile analysis, Lagos recorded the highest domestic debt in Q3 2022 with N877.03 billion, followed by Delta with N272.61 billion and Ogun with N241.78 billion.
“On the other hand, the lowest debt was recorded in Jigawa with N44.40 billion, followed by Kebbi and Katsina with N60.13 billion and N62.37 billion respectively,” the reports released by NBS reads.
According to NBS, the top 10 states in Nigeria with the highest domestic debt in Q3 2022 are Lagos: N877.04bn, Delta: N272.61bn, Ogun: N241.78bn, Rivers: N225.51bn, Akwa Ibom: N219.62bn, Imo: N207.52bn, Cross River: N175.19bn, Oyo: N160.07bn, Plateau: N151.90bn and Bayelsa: N151.16bn.
