On Friday, the Nigerian Bureau of Statistics (NBS) published its quarterly report titled “Nigerian Domestic & Foreign Debt Q4 202,” in which it disclosed the information that was provided earlier.
According to the findings of the research, the country’s overall public debt increased by 4.96% during the fourth quarter of 2022, while the country’s total external debt reached N18.70 trillion during the same period.
“Yet, as of the fourth quarter of 2022, the proportion of total public debt that was comprised of external debt stood at 40.44 percent, while the proportion of total public debt that was comprised of domestic debt was recorded at 59.566 percent. According to the research, in the fourth quarter of 2022, the proportion of domestic debt held by the Federal Government was 80.62%.
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Lagos, the economic capital of the nation, topped the list of states with the largest debt profile in Q4 2022, recording a total of N807.21 billion. Delta came in second with N304.25 billion, while Ogun came in third with N270.45 billion.
During this time, Jigawa had the lowest debt with N43.95 billion, followed by Kebbi and Katsina with N61.31 billion and N62.37 billion respectively.
