• News - North East - Borno
  • Updated: September 15, 2023

Borno, Taraba Record Lowest External Debts In Nigeria — NBS

Borno, Taraba Record Lowest External Debts In Nigeria — NB

NBS building Abuja

The National Bureau of Statistics (NBS), has said that Borno and Taraba states have recorded the lowest external debts in Nigeria.

The NBS made this known in its Nigerian Domestic and Foreign Debt Report for Q2 2023 on Friday in Abuja.

"Borno recorded the lowest external debt with 18.75 million dollars, followed by Taraba with 21.92 million dollars,” the Bureau said.

The NBS added that Nigeria’s public debt stock increased from N49.85 trillion (108.30 billion dollars) in the first quarter of 2023 to N87.38 trillion (113.42 billion dollars ) in the second quarter of 2023.

According to the News Agency of Nigeria (NAN), the report said Nigeria’s public debt stock which included external and domestic debt, grew by 75.27 per cent in Q2 of 2023

It said that External debt stood at N33.25 trillion (43.16 billion dollars) in Q2 2023, while domestic debt was N54.13 trillion (70.26 billion dollars).

“However, the share of external debt to total public debt stood at 38.05 per cent in Q2 2023, while domestic debt was recorded at 61.95 per cent.’’

In a breakdown by states, the bureau said that Lagos State recorded the highest domestic debt of N996.44 billion in Q2 2023, followed by Delta at N465.40 billion.

The report showed Jigawa recorded the lowest domestic debt at N43.13 billion, followed by Kebbi at N60.94 billion.

In addition, it stated that Lagos state recorded the highest external debt with 1.26 billion dollars, followed by Kaduna state with 569.38 million dollars.

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