The National Bureau of Statistics (NBS) yesterday said Nigeria’s external and domestic total debt profile hit N87.91 trillion in the third quarter (Q3) of this year.
Its document entitled: “Nigerian Domestic and Foreign Debt Q3 2023),” noted that it was an indication of a growth rate of 0.61 per cent quarterly.
“Public debt stock, which includes external and domestic debt, stood at N87.91 trillion ($114.35 billion) in Q3 2023 from N87.38 trillion ($ 113.42 billion) in Q2 2023, indicating a growth rate of 0.61per cent on a quarter-on-quarter basis,” NBS said.
NBS also noted that the total external debt stood at N31.98 trillion ($41.59 billion) in Q3 2023, while total domestic debt was N55.93 trillion ($72.76 billion).
According to the report, the share of the external debt (in naira value) to total public debt was 36.38 per cent during the period under review while the share of domestic debt (in naira value) to total public debt stood at 63.62 per cent.
NBS document showed that Lagos topped the lists of states with the highest debt profile of N960.50 billion.
Lagos was followed by Delta with N371.49 billion while Jigawa State recorded the lowest domestic debt of N42.89 billion.
NBS said: “Lagos State recorded the highest domestic debt in Q3 2023 with N960.50 billion, followed by Delta with N371.49 billion.
“Jigawa State recorded the lowest domestic debt with N42.89 billion, followed by Kebbi with N60.88 billion.”
