Public Debt Stock Increases To N42.84tn In Q2 – NBS

Nigeria’s public debt stock rose from N35.46 trillion (US$86.57 billion) in the second quarter of 2021 to N42.84 trillion (US$ 103.31 billion) in the second quarter of 2022.

This includes external and domestic debt, according to the National Bureau of Statistics (NBS) in its Nigerian Domestic and Foreign Debt Report for Q2 2021 to Q2 2022 released in Abuja on Wednesday.

The NBS stated that external debt stood at N13.71 trillion (33.46 billion dollars) in the second quarter of 2021 and increased to N16.61 trillion (40.06 billion dollars) in the second quarter of 2022.

It also stated that domestic debt was N21.75 trillion (53.10 billion dollars) in the second quarter of 2021, but increased to N26.23 trillion (63.24 billion dollars) in the second quarter of 2022.

This, it further stated, shows that public debt (in national currency) grew by 20.81% in Q2 2022 from figures recorded in Q2 2021.

It, however, noted that the share of external debt increased from 38.66% in Q2 2021 to 38.78% in Q2 2022 while domestic debt decreased slightly from 61.34% in Q2 2021 to 61.22% in Q2 2022.