From Our Correspondent
Nigeria’s public debt stock rose from N97.34 trillion ($108.23 billion) in the fourth quarter of 2023 to N121.67 trillion ($91.46 billion) in the first quarter of 2024.
The National Bureau of Statistics (NBS) released the stock figures on its website Tuesday.
It further stated that the Nigerian Domestic and Foreign Debt Report for Q1 2024 was released in Abuja.
The report stated that Nigeria’s public debt stock, which included external and domestic debts, grew by 24.99 per cent on a quarter-on-quarter basis.
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External debts stood at N56.02 trillion ($42.12 billion) in Q1 2024, while domestic debt was N65.65 trillion ($49.35 billion).
“However, the share of external debt to total public debt stood at 46.05 per cent in Q1 2024.
“The nation recorded 53.95 per cent domestic deb.”
In a breakdown by states, NBS stated that Lagos State recorded the highest domestic debt of N929.41 billion in Q1 2024, followed by Delta with N334.90 billion.
The report showed Jigawa recorded the lowest domestic debt at N2.07 billion, followed by Ondo at N16.40 billion.
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