By: News Peddlers
 | ||
| The Nigerian Bureau of Statistics (NBS) office. |
The stock of Nigeria's public debt rose from N49.85 trillion ($108.30 billion) in the first quarter of 2023 to N87.38 trillion ($113.42 billion) in the second quarter of 2023.
The National Bureau of Statistics (NBS) stated this in its Nigerian Domestic and Foreign Debt Report for Q2 2023, which was released in Abuja on Friday.
According to the research, Nigeria's public debt stock, which includes both external and domestic debt, increased by 75.27 percent in the second quarter of 2023.
In Q2 2023, external debt was N33.25 trillion ($43.16 billion), while domestic debt was N54.13 trillion ($70.26 billion).
"However, in Q2 2023, the share of external debt to total public debt stood at 38.05 percent, while domestic debt was recorded at 61.95 percent," NBS noted.
According to the bureau, Lagos State has the highest internal debt of N996.44 billion in Q2 2023, followed by Delta at N465.40 billion.
According to the data, Jigawa has the lowest internal debt at N43.13 billion, followed by Kebbi at N60.94 billion.
Furthermore, Lagos had the greatest external debt, with $1.26 billion, followed by Kaduna State, with $569.38 million.
"Borno recorded the lowest external debt with 18.75 million dollars, followed by Taraba with 21.92 million dollars," according to the NBS.
(NAN)