Nigeria’s Public Debt Stock Increases To N44.06trn In Third Quarter Of 2022
Written by Adewale Adeyemi on January 31, 2023
Nigeria’s public debt stock increased from N42.84 trillion in the second quarter of 2022 to N44.06 trillion in the third quarter of 2022. The National Bureau of Statistics (NBS), said this on Tuesday in its Nigerian Domestic and Foreign Debt Report for the third quarter of 2022 released in Abuja.
The report said Nigeria’s public debt stock which includes external and domestic debt grew by 2.84 per cent in the third quarter of 2022. It said that External debt stood at N17.14 trillion in the third quarter 2022, while domestic debt was N26.91 trillion.
In addition, the report showed that the Federal Government’s share of domestic debt was 80.07 per cent in the third quarter of 2022. In a breakdown by states, the bureau said that Lagos State recorded the highest domestic debt of N877.03 billion in the third quarter of 2022.