Nigeria’s public debt rose 2.84% to N44.06tn ($101.91bn) in Q3 2022, according to the National Bureau of Statistics. The debt, which includes both external and domestic, was reported in the bureau’s Nigerian domestic and foreign debt Q3 2022 report released on Monday. The debt figure includes the federal government, state governments, and the Federal Capital Territory’s debt stock.

The report said external debt stood at N17.14 trillion or $39.66 billion while domestic debt was N26.91 trillion in the quarter under review.

However, the statistical office said the share of external debt to total public debt stood at 38.91 per cent in Q3 2022, while domestic debt was recorded at 61.08 per cent.

State performance

On state profile analysis, it said Lagos recorded the highest domestic debt in Q3 2022 with N877.03 billion, followed by Delta with N272.61 billion and Ogun with N241.78 billion.

“The lowest debt was recorded in Jigawa with N44.40 billion, followed by Kebbi and Katsina with N60.13 billion and N62.37 billion respectively,” it said.

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