Nigeria’s public debt stock has experienced an increase of 24.99 percent.
This is said to be on a quarter-on-quarter basis.
This is an increase from ₦97.34 trillion in the fourth quarter of 2023 to ₦11.67 trillion in the first quarter of 2024.
The National Bureau of Statistics (NBS) reported this in its Nigerian Domestic and Foreign Debt Report for Q1 2024 released on Tuesday, in Abuja.
It said that External debt stood at ₦56.02 trillion in Q1 2024, while Domestic debt was ₦65.65 trillion.
“The share of external debt to total public debt stood at 46.05 per cent in Q1 2024, while domestic debt was recorded at 53.95 per cent.’’
Lagos State recorded the highest domestic debt of ₦929.41 billion in Q1 2024, followed by Delta with ₦334.90 billion.
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