Nigeria’s public debt stock which includes external and domestic debt hit a new mark of N46.25 trillion in Q4 2022 from N44.06 trillion in Q3 2022.
This is according to the Nigeria Bureau of Statistics(NBS) which released its quarterly report titled “Nigerian Domestic & Foreign Debt Q4 202” on Friday
The report revealed that the nation’s public debt grew by 4.96% in Q4 2022, while
external debt stood at N18.70 trillion in the same quarter of 2022.
“However, the share of external debt to total public debt stood at 40.44% in Q4 2022, while domestic debt was recorded at 59.56%. In addition, the Federal Government’s share of domestic debt was 80.62% in Q4 2022,” the report read.
In a debt profile breakdown, the commercial hub of the nation, Lagos, tops the states with the highest debt profile recording a total of N807.21 billion in Q4 2022, while Delta came in second with N304.25 billion and Ogun with N270.45 billion.
Meanwhile, Jigawa recorded the lowest debt with N43.95 billion followed by Kebbi and Katsina with N61.31 billion and N62.37 billion respectively.