Nigerian Domestic and Foreign Debt Q3 2023

Key Highlights

  • Public debt stock which includes external and domestic debt stood at N87.91 trillion (US$114.35 billion) in Q3 2023 from N87.38 trillion (US$ 113.42 billion) in Q2 2023, indicatng a growth rate of 0.61%on a quarter-on-quarter basis.
  • Total external debt stood at N31.98 trillion (US$41.59 billion) in Q3 2023, while total domestic debt was N55.93 trillion (US$72.76 billion).
  • The share of external debt (in naira value) to total public debt was 36.38%in Q3 2023, while the share of domestic debt (in naira value) to total public debt was 63.62%.
  • Lagos state recorded the highest domestic debt in Q3 2023 with N960.50 billion, followed by Delta with N371.49 billion.
  • Jigawa state recorded the lowest domestic debt with N42.89 billion, followed by Kebbi with N60.88 billion.
Data source: National Bureau of Statistics