Follow Us on Google
From Isaac Anumihe, Abuja
Nigeria’s public debt stock which includes external and domestic debt stood at N87.38 trillion (US$113.42 billion) in Q2 2023 from N49.85 trillion (US$ 108.30 billion) in Q1 2023, indicating a growth rate of 75.27 per cent on a quarter-on-quarter basis.
This was contained in a statement published in National Bureau of Statistics (NBS) website.
According to the statement, the total external debt stood at N33.25 trillion (US$43.16 billion) in Q2 2023, while total domestic debt was N54.13 trillion (US$70.26 billion).
The share of external debt (in naira value) to total public debt was 38.05 per cent in Q2 2023, while the share of domestic debt (in naira value) to total public debt was 61.95 per cent.
Lagos State recorded the highest domestic debt in Q2 2023 with N996.44 billion, followed by Delta State with N465.40 billion.
Jigawa State recorded the lowest domestic debt with N43.13 billion, followed by Kebbi State with N60.94 billion.
In addition, Lagos State recorded the highest external debt with US$ 1.26 billion, followed by Kaduna State with US$569.38 million.
Borno State had the least external debt with US$18.75 million, followed by Taraba State with US$21.92 million.
Meanwhile, on the Transport Fare Watch for July 2023, the average fare paid by commuters for bus journeys within the city per drop increased by 3.96 per cent from N1,285.41 in June N1,336.29 in July 2023. On a year-on-year basis, it rose by 121.69 per cent from N602.77 in July 2022. In another category, the average fare paid by commuters for bus journey intercity per drop rose to N5,919.49 in July 2023, indicating an increase of 4.10 per cent on a month-on-month basis compared to N5,686.49 in June 2023. On a year-on-year basis, the fare rose by 57.50 per cent from N3,758.46 in July 2022. In air travel, the average fare paid by air passengers for specified routes single journey increased by 0.17 per cent from N78,640.54 in June 2023 to N78,775.74 in July 2023. On a year-on-year basis, the fare rose by 29.54 per cent from N60,811.54 in July 2022.
The average transport fare paid on ‘Okada’ transportation was N646.12 in July 2023 which was 4.46 per cent higher than the rate recorded in June 2023 (N618.52). On a year-on-year basis, the fare rose by 48.42 per cent when compared with July 2022 (N435.07). For water transport (waterway passenger transportation), the average fare paid in July 2023 increased to N1,406.70 from N1,366.22 which indicate an increase of 2.96 per cent on monthly basis from June 2023. On a year-on-year basis, it increased by 45.65 per cent from N965.82 in July 2022.
