Nigeria's debt climbs to ₦121.67trn in Q1, Lagos leads in domestic debt

Nigeria’s public debt stock grew by 24.99% on a quarter-on-quarter basis.

Nigeria’s public debt stock increased from ₦97.34 trillion (108.23 billion dollars) in the fourth quarter of 2023 to ₦121.67 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% on a quarter-on-quarter basis.

It said that External debt stood at ₦56.02 trillion (42.12 billion dollars) in Q1 2024, while domestic debt was ₦65.65 trillion (49.35 billion dollars).

By News Agency of Nigeria.

Full story at Pulse NGPulse NG.