Recent publication by the National Bureau of Statistics (NBS) has revealed that Nigeria’s public debt stock which includes external and domestic debt stood at N46.25 trillion (US$103.11 billion) in Q4 2022 from N44.06 trillion (US$ 101.91 billion) in Q3 2022.
This shows that public debt (in national currency) grew by 4.96% in Q4 2022. External debt stood at N18.70 trillion (US$41.69 billion) in Q4 2022, while domestic debt was N27.55 trillion (US$61.41billion). 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 share of domestic debt was 80.62% in Q4 2022.
On state profile analysis, Lagos recorded the highest domestic debt in Q4 2022 with N807.21 billion, followed by Delta with N304.25 billion and Ogun with N270.45 billion. On the other hand, the lowest debt was recorded in Jigawa with N43.95 billion, followed by Kebbi and Katsina with N61.31 billion and N62.37 billion respectively.