Nigeria’s public debt hits N44.06tr As Election Closes By – NBS

National Bureau of Statistics (NBS ) has said that in the third quarter of 2022, (Q3 2022) domestic debt totalled N44.06 trillion from N42.84 trillion in the second quarter of 2022.

This was made known in the document titled: “Nigerian domestic and foreign Debt Q3 2022.”

It reads: “Nigeria’s public debt stock which includes external and domestic debt stood at N44.06 trillion (US$101.91 billion) in Q3 2022 from N42.84 trillion (US$ 103.31 billion) in Q2 2022.”

The data said this shows that public debt (in national currency) grew by 2.84% in Q3 2022. External debt stood at N17.14 trillion (US$39.66 billion) in Q3 2022, while domestic debt was N26.91 trillion(US$62.25billion).

However, the share of external debt to total public debt stood at 38.92% in Q3 2022, while domestic debt was recorded at 61.08%.

According to the document, on other hand, 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.

National Bureau of Statistics, Nigeria mission is to generate, on a continuous and sustainable basis, socio-economic statistics on all facets of the economy.

However, they act as the exclusive agency in verifying, approving, administering and publishing basic national statistical data and to regularly disseminate to the general public statistical information with regard to the national economic and social development.