WED, 09 NOV, 2022-theGBJournal| Nigeria’s public debt stock which includes external and domestic debt moved from N35.46 trillion (US$86.57 billion) in Q2 2021 to N42.84 trillion (US$ 103.31 billion) in Q2 2022, according to latest National Bureau of Statistics data.
The NBS said of this, external debt stood at N13.71 trillion (US$33.46 billion) in Q2 2021 and increased to N16.61 trillion (US$40.06 billion) in Q2 2022.
Domestic debt, on the other hand, stood at N21.75 trillion (US$53.10 billion) in Q2 2021 and increased to N26.23 trillion (US$63.24 billion) in Q2 2022. This shows that public debt (in national currency) grew by 20.81% in Q2 2022 from figures recorded in Q2 2021.
However, the share of external debt increased from 38.66% in Q2 2021 to 38.78% in Q2 2022, while domestic debt decreased slightly from 61.34% in Q2 2021 to 61.22% in Q2 2022.
On state profile analysis, Lagos recorded the highest domestic debt in Q2 2022 with N797.30 billion, followed by Delta with N378.87 billion and Ogun with N241.78 billion. Conversely, the lowest debt was recorded in Jigawa with N45.13 billion, followed by Ebonyi and Kebbi with N59.11 billion and N60.41 billion respectively.
In addition, Lagos state recorded the highest external debt stock in Q2 2022 with US$1.27 billion, followed by Kaduna with US$586.77 million and Edo with US$268.31 million. The lowest was recorded in Borno with US$18.69 million, followed by Taraba and Yobe with US$22.28 million and US$23.09 million respectively.
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