Nigeria’s total public debt stock has hit N46.25 trillion or 103.11 billion dollars in Q4 2022, the National Bureau of Statistics (NBS) stated in its report.
The debt consists of domestic and external debt stocks of the Federal Government, the 36 State Governments and the Federal Capital Territory, Abuja.
NBS stated this on Friday in its Nigerian Domestic and Foreign Debt Report for Q4 2022 in Abuja, saying that the public debt stock grew by 4.96 per cent in the Q4 of 2022.
The report said that External debt stood at N18.70 trillion (41.69 billion dollars) in Q4 2022, while domestic debt was N27.55 trillion (61.41 billion dollars).
The NBS, however, said the share of external debt to total public debt stood at 40.44 per cent in Q4 2022, while domestic debt was recorded at 59.56 per cent.”
In addition, the report showed that the federal government’s share of domestic debt was 80.62 per cent in Q4 2022.
In a breakdown by states, the bureau said that Lagos State recorded the highest domestic debt of N807.21 billion in the fourth quarter of 2022.
It was followed by Delta with N304.25 billion and Ogun with N270.45 billion.
The report showed Jigawa recorded the lowest debt at N43.95 billion, followed by Kebbi and Katsina at N61.31 billion and N62.37 billion.
As of December 31, 2021, Nigeria’s total public debt was N39.556 trillion or 95.779 billion dollars.
NAN reports that the comparable figure for December 31, 2020, was N32.915 trillion or 86.392 billion dollars.
