Nigeria’s Foreign, Domestic Debt Stock Up By 0.61% -NBS

The National Bureau of Statistics (NBS) in its latest report revealed that the public debt stock which includes external and domestic debt stood at N87.91 trillion (US$114.35 billion) in Q3 2023 from N87.38 trillion (US$ 113.42 billion) in Q2 2023, indicating a growth rate of 0.61% on a quarter-on-quarter basis.

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NBS said, the total external debt stood at N31.98 trillion (US$41.59 billion) in Q3 2023, while total domestic debt was N55.93 trillion (US$72.76 billion).

The Bureau said, the share of external debt (in naira value) to total public debt was 36.38% in Q3 2023, while the share of domestic debt (in naira value) to total public debt was 63.62%.

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It said, the Lagos state recorded the highest domestic debt in Q3 2023 with N960.50 billion, followed by Delta with N371.49 billion, while, the Jigawa state recorded the lowest domestic debt with N42.89 billion, followed by Kebbi with N60.88 billion.

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