Nigeria’s public debt stock hits N97.34tr in Q4 2023 – NBS

Lagos, Delta, Kaduna tops list

The National Bureau of Statistics, (NBS), says Nigeria’s public debt stock rose from N87.91 trillion ($114.35 bn) in the third quarter of 2023 to N97.33 trillion ($108.23 bn) in the fourth quarter of 2024.

According to the latest domestic and foreign debt report published by the NBS, Lagos State has the highest debt record in both domestic and foreign or external debt among the 36 States and the Federal Capital Territory, (FCT), at the end of the fourth quarter (Q4) 2024.

However, a breakdown of States  indebtedness shows that Lagos State recorded the highest domestic debt of N1.05 trillion in Q4 2023, followed by Delta with N373.41 billion.

On the foreign loan portfolio, Lagos State tops the list with an external debt of $1.24 billion, followed by Kaduna State with $587.07 million.

On the contrary, Jigawa recorded the lowest domestic debt, at N42.76 billion; followed by Kebbi, at N60.69 billion.

“Borno recorded the lowest external debt, with 20.49 million dollars, followed by Yobe, with 21.49 million dollars”, the NBS stated.

Meanwhile, a breakdown of the country’s debt portfolio shows that external debt stood at N38.22 trillion ($42.50 billion), while that of domestic debt was N59.12 trillion ($65.73 billion) in Q4, 2023

“However, the share of external debt-to-total public debt stood at 39.26 percent in Q4 2023, while domestic debt was recorded at 60.74 percent”, the report said.

Related news

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.