NBS reveals, Public debt stock rises to N97.34tr in Q4 2023

Nigeria’s public debt stock rose from N87.91 trillion (114.35 billion dollars ) in the third quarter of 2023 to N97.34 trillion (108.23 billion dollars) in the fourth quarter of 2023.

This was disclosed by the National Bureau of Statistics on Tuesday in its Nigerian Domestic and Foreign Debt Report for Q4 2023 released in Abuja.

The report stated that Nigeria’s public debt stock, which included external and domestic debt, grew by 10.73 percent every three month.

It also said that external debt stood at N38.22 trillion (42.50 billion dollars) in Q4 2023, while domestic debt was N59.12 trillion (65.73 billion dollars).

“However, the share of external debt to total public debt stood at 39.26 per cent in Q4 2023, while domestic debt was recorded at 60.74 per cent.’’

Following the breakdown by states, the bureau affirmed that Lagos State recorded the highest domestic debt of N1.05 trillion in Q4 2023, alongside Delta State with N373.41 billion.

According to the report showed, Jigawa recorded the lowest domestic debt at N42.76 billion, followed by Kebbi at N60.69 billion.

In addition, it stated that Lagos state recorded the highest external debt with 1.24 billion dollars , followed by Kaduna state with 587.07 million dollars.

“Borno recorded the lowest external debt with 20.49 million dollars, followed by Yobe with 21.49 million dollars,” the NBS stated.

Popular Related

Customs Q1 revenue surpasses N1tn, rice tops N10bn seizures

In the first quarter of 2024 , the Nigeria Customs Service, declared on Wednesday that a 122.35 percent increase while comparing it to the...

Blue economy key to youth empowerment, says Oyetola

The Minister of Marine and Blue Economy, Adegboyega Oyetola, has tasked Nigerian youths to take advantage of the potential in the maritime sector so...

Ibadan DisCo warns against paying cash to fake agents

The Ibadan Electricity Distribution Company (IBEDC), has urged customers to stop making payment to fake agents, as it  announced the availability of meters following...

Tinubu plans to announce a new minimum wage on Workers’ Day

President Bola Tinubu might announce a new minimum wage on May 1, International Labour Day, with the implementation backdated to April. The National Minimum...

Senate calls for CBN officials over N30 trillion naira loans

The senate had agreed to call in some officials of the Central Bank of Nigeria over the disbursement and utilization of N30trn Ways and...

NEPC, Customs engage stakeholders on cross-border tra

The Nigerian Export Promotion Council (NEPC) in partnership with the Nigerian Customs Service (NCS) have concluded a stakeholders’ engagement focused on mainstreaming informal cross-border...

Rwanda, Ogun to partner for economic growth

Christophe Bazivamo, the Rwandan Ambassador to Nigeria, expressed readiness to establish economic and educational ties with Ogun State for the mutual benefit of both...

FG begs workers as electricity union insists on strike

Following the recent increase on electricity Tariff, the Federal Government has pleaded to member of the National Union of Electricity Employees not to go...

Currency in circulation rises to N3.87tn – CBN

Following the value of Nigeria's currency in circulation, which has increased to N3.87tn at the end of first quarter in 2024. This is according to...

Government credit increases by 2% to N19.98 trillion

Government credit increased by 2.0 percent month-on-month (MoM) to N19.98 trillion in April, up from N19.58 trillion in March, according to the Central Bank...