Close Menu
    Subscribe
    Friday, May 29
    News

    Nigeria’s Public Debt Stock Increases to N121.67trn in Q1 2024 – NBS

    Olu AnisereBy No Comments2 Mins Read
    Nigeria’s Public Debt Stock Increases to N121.67trn in Q1 2024 – NBS

    Nigeria’s Public Debt Stock Increases to N121.67trn in Q1 2024 – NBS

    Nigeria’s public debt stock increased from N97.34 trillion (108.23 billion dollars) in the fourth quarter of 2023 to N121.67 trillion (91.46 billion dollars ) in the first quarter of 2024.

    The National Bureau of Statistics (NBS) said this on Tuesday in its Nigerian Domestic and Foreign Debt Report for Q1 2024 released in Abuja.

    The report said Nigeria’s public debt stock, which included external and domestic debts, grew by 24.99 per cent on a quarter-on-quarter basis.

    It said that External debt stood at N56.02 trillion (42.12 billion dollars) in Q1 2024, while domestic debt was N65.65 trillion (49.35 billion dollars).

    “However, 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.’’

    In a breakdown by states, the bureau said that Lagos State recorded the highest domestic debt of N929.41 billion in Q1 2024, followed by Delta with N334.90 billion.

    The report showed Jigawa recorded the lowest domestic debt at N2.07 billion, followed by Ondo at N16.40 billion. #Nigeria’s Public Debt Stock Increases to N121.67trn in Q1 2024 – NBS

    Oil Declines as US Dollar Strength Curtails Demand

    Share.

    Olu Anisere is a financial and economic journalist at MarketForces Africa, specialising in African macroeconomic policy, international finance, energy markets, and continental development.He covers major multilateral institutions, including the International Monetary Fund (IMF), World Bank, and the United Nations Economic Commission for Africa (ECA), providing readers with frontline reporting on policies shaping Africa's economic trajectory.Olu has reported extensively on Nigeria's fiscal and monetary policy landscape, including CBN interest rate decisions, Nigeria's bond market, FX inflows, and the country's engagement with global financial institutions.His coverage spans IMF and World Bank Spring and Annual Meetings, African Ministers of Finance conferences, and high-level economic forums where Africa's development agenda is set.His reporting captures perspectives from Africa's most influential economic voices, including Tony Elumelu, senior IMF officials, and CBN leadership, bringing institutional insight and policy depth to MarketForces Africa's readers.Olu also covers Inside Africa — tracking economic, investment, and development stories from across the continent. Olu Anisere is based in Lagos, Nigeria.

    Related Posts

    Add A Comment

    Comments are closed.