National Bureau of Statistics has said that Nigeria’s public debt stock which includes external and domestic debt stood at N97.34 trillion (US$108.23 billion) in Q4 2023 from N87.91 trillion (US$ 114.35 billion) in Q3 2023, indicating a growth rate of 10.73% on a quarter-on-quarter basis. Total external debt stood at N38.22 trillion (US$42.50 billion) in Q4 2023, while total domestic debt was N59.12 trillion (US$65.73 billion). The share of external debt (in naira value) to total public debt was 39.26% in Q4 2023, while the share of domestic debt (in naira value) to total public debt was 60.74%. Lagos state recorded the highest domestic debt in Q4 2023 with N1.05 trillion, followed by Delta with N373.41 billion. Jigawa state recorded the lowest domestic debt with N42.76 billion, followed by Kebbi with N60.69 billion. Again, Lagos state had the highest external debt in Q4 2023 with $1.24 billion, followed by Kaduna with $587.07 million, while Borno recorded the least with $20.49 million, followed by Yobe with $21.49 million.
