Nigeria’s debt profile has risen to N44.06 trillion, approximately $101.91 billion in the third quarter (Q3) of 2022.
This was against the N42.84 trillion, equivalent to $103.31 billion recorded in the second quarter (Q2) of 2022.
National Bureau of Statistics (NBS) disclosed this on Tuesday through its Nigerian Domestic and Foreign Debt Report for Q3 2022 released in Abuja.
The report highlighted that Nigeria’s public debt stock which included external and domestic debt increased by 2.84 per cent in Q3 of 2022.
It indicated that external debt stood at N17.14 trillion ($39.66 billion) in Q3 2022, while domestic debt was N26.91 trillion ($62.25 billion).
The report also revealed that the total public debt stood at 38.92 per cent in Q3 2022, while domestic debt was recorded at 61.08 per cent.
To this end, the Federal Government’s share of domestic debt stood at 80.07 per cent in Q3 of 2022.
A breakdown of the report by States highlighted that Lagos recorded the highest domestic debt of N877.03 billion in the third quarter of 2022.
It was followed by Delta with N272.61 billion and Ogun with N241.78 billion.
The report also showed that Jigawa recorded the lowest debt at N44.40 billion, followed by Kebbi and Katsina at N60.13 billion and N62.37 billion respectively.
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