Nigeria’s debt hits hit N46.25 trillion

Nigeriia’s s5public debt stock consisting of domestic external debt stocks of the Federal Government of Nigeria, the 36 state governments and the Federal Capital Territory hit N46.25 trillion or 103.11 billion dollars in Q4 2022.

  This was released in Abuja on Friday by the National Bureau of Statistics (NBS)that in its Nigerian Domestic and Foreign Debt Report for Q4 2022.

The report showed that Nigeria’s public debt stock grew by 4.96 per cent in Q4 of 2022.

  It 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.

According to statistics,  Nigeria’s total public debt as of Dec. 31, 2021, was N39,556 trillion or 95.779 billion dollars while the comparable figure for Dec. 31, 2020, was N32.915 trillion or 86.392 billion dollars.

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