Lagos State recorded the highest as Nigeria’s public debt stock increased from N35.46 trillion in the second quarter of 2021 to N42.84 trillion in the corresponding period in 2022.
The National Bureau of Statistics (NBS) made this disclosure on Wednesday during its Domestic and Foreign Debt Report for Q2 2021 to Q2 2022.
The NBS disclosed that external debt stood at N13.71 trillion in the second quarter of 2021 and jumped to N16.61 trillion in the second quarter of 2022.
Also, the domestic debt stood at N21.75 trillion in Q2 2021 but catapulted to N26.23 trillion in Q2 2022.
The state-by-state analysis put Lagos State’s highest domestic debt at N797.30 billion in Q2 2021, Delta with the figure of N378.87 billion came second, followed by Ogun at N241.78 billion.
On the other hand, Jigawa owes N45.13 billion, representing the lowest, followed by Ebonyi and Kebbi at N59.11 billion and N60.41 billion, respectively.
It added that Lagos State also recorded the highest external debt stock of $1.27 billion in the second quarter of 2022, followed by Kaduna State at $586.77 million and Edo at $268.31 million.
However, the report added that “the lowest external debt stock was recorded in Borno at $18.69 million, followed by Taraba and Yobe at $22.28 million and $23.09 million, respectively.”
Lagos records highest figure as Nigeria’s public debt stock hits N42.84trn in Q2 of 2022
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