NBS HQ
Lagos State has been said to have recorded the highest domestic debt in Q2 2023 with N996.44 billion, according to the National Bureau of Statistics (NBS).
The NBS who made this known in its Foreign Debt report for Q2 2023 released on Friday, September 15 said Delta State followed the list with N465.40 billion.
The agency also revealed that on a quarterly basis, Nigerias public debt increased at a rate of 75.27%.
The report noted that Nigerias public debt stock which includes external and domestic debt stood at N87.38 trillion (US$113.42 billion) in Q2 2023 from N49.85 trillion (US$ 108.30 billion) in Q1 2023, indicating a growth rate of 75.27% on a quarter-on-quarter basis.
Jigawa state recorded the lowest domestic debt with N43.13 billion, followed by Kebbi with N60.94 billion. Lagos state recorded the highest external debt with US$ 1.26 billion, followed by Kaduna with US$569.38 million. Borno state had the least external debt with US$18.75 million, followed by Taraba with US$21.92 million, the report read.
Lagos States domestic debt was recorded at N996.4 billion, as the total domestic debt for states was N5.8 trillion for the quarter, meanwhile the Federal Capital, FCT recorded domestic debt of N84.773 billion (New Telegraph)
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