By Tony Obiechina, Abuja
The National Bureau of Statistics (NBS) at the weekend revealed that in the fourth quarter 2022 (Q4 2022), Nigeria’s domestic and external debt profile hit N46.25 trillion.
It rose by 4.96% from the N44.06 trillion of the preceding quarter, according to the Bureau in its document titled: “Nigeria’s Public and Domestic Debt (Q4 2022.”
NBS said: “Nigeria’s public debt stock which includes external and domestic debt stood at N46.25 trillion (US$103.11 billion) in Q4 2022 from N44.06 trillion (US$ 101.91 billion) in Q3 2022.
“This shows that public debt (in national currency) grew by 4.96% in Q4 2022.”
The data noted that external debt stood at N18.70 trillion (US$41.69 billion) in Q4 2022, while domestic debt was N27.55 trillion (US$61.41billion).”
It however, added that the share of external debt to total public debt stood at 40.44% in Q4 2022, while domestic debt was recorded at 59.56%.
Besides, NBS said the Federal Government share of domestic debt was 80.62% in Q4 2022.
According to the report, Lagos recorded the highest domestic debt in Q4 2022 with N807.21 billion, followed by Delta with N304.25 billion and Ogun with N270.45 billion.
NBS said on the other hand, the lowest debt was recorded in Jigawa with N43.95 billion, followed by Kebbi and Katsina with N61.31 billion and N62.37 billion respectively.
