* Lagos remains highest debtor State, Jigawa least
The National Bureau of Statistics (NBS) has disclosed that Nigeria’s external and domestic debt hit N121.67 trillion in the first quarter (Q1 2024).
This was contained in its document titled: “Nigerian Domestic & Foreign Debt Q1 2024.”
The Bureau noted that it rose by 24.99% from N97.34 trillion in the Q3 2023.
NBS said: “Nigeria’s public debt stock, which includes external and domestic debt, stood at N121.67 trillion (US$91.46 billion) in Q1 2024 from N97.34 trillion (US$ 108.23 billion) in Q4 2023, indicating a growth rate of 24.99% on a quarter-on-quarter basis.”
The report said the total external debt stood at N56.02 trillion (US$42.12 billion) in Q1 2024, while total domestic debt was N65.65 trillion (US$49.35 billion).
NBS noted that the share of external debt (in naira value) to total public debt was 46.05% in Q1 2024, while the share of domestic debt (in naira value) to total public debt was 53.95%.
Lagos State, according to the bureau, recorded the highest domestic debt in Q1 2024 with N929.41 billion, followed by Delta State with N334.90 billion.
It added that Jigawa State recorded the lowest domestic debt with N2.07 billion, followed by Ondo with N16.40 billion.
