Nigerian Domestic & Foreign Debt Q1 2024

Executive Summary

 Nigeria's public debt stock which includes external and domestic debt stood at N121.67 trillion (US$91.46 billion) in Q1 2024 from N97.34 trillion (US$ 108.23 billion) in Q4 2023, indicating a growth rate of 24.99% on a quarter-on-quarter basis. o Total external debt stood at N56.02 trillion (US$42.12 billion) in Q1 2024, while total domestic debt was N65.65 trillion (US$49.35 billion). o The share of external debt (in naira value) to total public debt was 46.05% in Q1 2024, while the share of domestic debt (in naira value) to total public debt was 53.95%. o Lagos state recorded the highest domestic debt in Q1 2024 with N929.41 billion, followed by Delta with N334.90 billion. o Jigawa state recorded the lowest domestic debt with N2.07 billion, followed by Ondo with N16.40 billion.

Data source: National Bureau of Statistics