The National Bureau of Statistics (NBS) in its latest report said, Nigeria’s public debt stock which includes external and domestic debt stood at N87.38 trillion (US$113.42 billion) in Q2 2023 from N49.85 trillion (US$ 108.30 billion) in Q1 2023, indicating a growth rate of 75.27% on a quarter-on-quarter basis.
NBS said, the total external debt stood at N33.25 trillion (US$43.16 billion) in Q2 2023, while total domestic debt was N54.13 trillion (US$70.26 billion).
It said, the share of external debt (in naira value) to total public debt was 38.05% in Q2 2023, while the share of domestic debt (in naira value) to total public debt was 61.95%.
The Bureau said, Lagos state recorded the highest domestic debt in Q2 2023 with N996.44 billion, followed by Delta with N465.40 billion.
While Jigawa state recorded the lowest domestic debt with N43.13 billion, followed by Kebbi with N60.94 billion.
In addition, the NBS said, Lagos state recorded the highest external debt with US$ 1.26 billion, followed by Kaduna with US$569.38 million.
While Borno state had the least external debt with US$18.75 million, followed by Taraba with US$21.92 million.
