NBS Reports That Public Debt Stock Increased To N97.34 Trn in Q4 2023

In the third quarter of 2023, Nigeria’s public debt stock was N87.91 trillion (114.35 billion dollars), whereas in the fourth quarter, it was N97.34 trillion (108.23 billion dollars).
This was stated in the Nigerian Domestic and Foreign Debt Report for Q4 2023 by the National Bureau of Statistics (NBS), which was made public in Abuja on Tuesday.
According to the report, Nigeria’s stock of public debt, which comprised both domestic and foreign debt, increased by 10.73 percent on a quarterly basis.
It said that external debt stood at N38.22 trillion (42.50 billion dollars) in Q4 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 per cent in Q4 2023, while domestic debt was recorded at 60.74 per cent.’’

In a breakdown by state, the bureau said that Lagos State recorded the highest domestic debt of N1.05 trillion in Q4 2023, followed by Delta with N373.41billion.
According to the report, as of Q4 2023, domestic debt was N59.12 trillion (65.73 billion dollars), while external debt was N38.22 trillion (42.50 billion dollars).
“On the other hand, domestic debt was recorded at 60.74 percent in Q42023, while the share of external debt to total public debt was 39.26 percent.”
According to a state-by-state breakdown provided by the bureau, Lagos State had the largest internal debt in Q42023, at N1.05 trillion, followed by Delta with N373.41billion.
According to the NBS, Borno had the lowest external debt with $20.49 million, followed by Yobe with $21.49 million, and Jigawa had the lowest domestic debt at N42.76 billion, Kebbi at N60.69 billion.