PIJAlance Magazine
The Patriot Institute of Journalism and Arts (PIJA), Lance Magazine is a public-centric independent media organisation dedicated to fighting injustice, fostering social justice and community development through the telling and retelling of the marginalised-oriented stories.

Nigeria’s Debt Hits N44.06tr Under Buhari’s Watch



Under the president Muhammadu Buhari leadership, the National Bureau of Statistics (NBS) has recently announced that in the third quarter of 2022, (Q3 2022) domestic debt totalled N44.06 trillion from N42.84 trillion in the second quarter of 2022.


This was made known in the document titled: “Nigerian domestic and foreign Debt Q3 2022.”


It said: “Nigeria’s public debt stock which includes external and domestic debt stood at N44.06 trillion (US$101.91 billion) in Q3 2022 from N42.84 trillion (US$ 103.31 billion) in Q2 2022.”


The data said this shows that public debt (in national currency) grew by 2.84% in Q3 2022. External debt stood at N17.14 trillion (US$39.66 billion) in Q3 2022, while domestic debt was N26.91 trillion(US$62.25billion). However, the share of external debt to total public debt stood at 38.92% in Q3 2022, while domestic debt was recorded at 61.08%.


NBS added on state profile analysis, Lagos recorded the highest domestic debt in Q3 2022 with N877.03 billion, followed by Delta with N272.61 billion and Ogun with N241.78 billion.


According to the document, on other hand, the lowest debt was recorded in Jigawa with N44.40 billion, followed by Kebbi and Katsina with N60.13 billion and N62.37 billion respectively.


Read Also: TIMELINE: + Seoul Visit Buhari has Spent Over 256 Days in Foreign Countries With About N1.6 billions

The neck-deep investigation, OSINT Fact-checking, Climate Change airing the marginalized, and doing critical and accountability reporting is what I do. I lead a group of professional investigators at the PIJAlance Magazine Research and Investigations Desk (RID). If you have a story, check 'contact us' to hit me.

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