Nigeria ‘s Domestic and External Debt Reportedly N121.67tr in Q1

Nigeria ‘s outer and homegrown obligation arrived at N121.67 trillion in the primary quarter (Q1 2024) of 2024 as uncovered in another report delivered by the Public Department of Measurements (NBS).

In the report named “Nigerian Homegrown and Unfamiliar Obligation Q1 2024”, it was expressed that the country’s obligation rose by 24.99% from N97.34 trillion in Q3 2023.

It read;

“Nigeria’s public obligation stock which incorporates outer and homegrown obligation remained at N121.67 trillion (US$91.46 billion) in Q1 2024 from N97.34 trillion (US$ 108.23 billion) in Q4 2023, demonstrating a development pace of 24.99% on a quarter-on-quarter premise.”

The absolute outside obligation remained at N56.02 trillion (US$42.12 billion) in Q1 2024, while the all out homegrown obligation was N65.65 trillion (US$49.35 billion). The portion of outer obligation (in naira worth) to add up to public obligation was 46.05% in Q1 2024, while the portion of homegrown obligation (in naira worth) to add up to public obligation was 53.95%.

As per NBS, Lagos State kept the most noteworthy homegrown obligation in Q1 2024 with N929.41 billion, trailed by Delta with N334.90 billion.

Jigawa state recorded the most reduced homegrown obligation with N2.07 billion, trailed by Ondo with N16.40 billion.