Nigeria Domestic and Foreign Debt Q4 2023

Key Highlights

  • Nigeria's public debt stock which includes external and domestic debt stood at N97.34 trillion (US$108.23 billion) in Q4 2023 from N87.91 trillion (US$ 114.35 billion) in Q3 2023, indicating a growth rate of 10.73% on a quarter-on-quarter basis.
  • Total external debt stood at N38.22 trillion (US$42.50 billion) in Q4 2023, while total domestic debt was N59.12 trillion (US$65.73 billion).
  • The share of external debt (in naira value) to total public debt was 39.26% in Q4 2023, while the share of domestic debt (in naira value) to total public debt was 60.74%.
  • Lagos state recorded the highest domestic debt in Q4 2023 with N1.05 trillion, followed by Delta with N373.41 billion. 
  • Jigawa state recorded the lowest domestic debt with N42.76 billion, followed by Kebbi with N60.69 billion.
  • Again, Lagos state had the highest external debt in Q4 2023 with $1.24 billion, followed by Kaduna with $587.07 million, while Borno recorded the least with $20.49 million, followed by Yobe with $21.49 million.

Data source: National Bureau of Statistics