By Hammed Hammed From Osun

Nigeria’s public commitment stock extended from N87.91 trillion (114.35 billion bucks) in the second half of the last quarter of 2023 to N97.34 trillion (108.23 billion bucks ) in the last quarter of 2023.

The Public Organization of Estimations (NBS) communicated this on Tuesday in its Nigerian Local and New Commitment Report for Q4 2023, conveyed in Abuja.

The report said Nigeria’s public commitment stock, which included external and local commitment, increased by 10.73 percent on a quarter-on-quarter basis.

It said that external commitment stayed at N38.22 trillion (4.50 billion bucks) in Q4 2023, while local commitment was N59.12 trillion (65.73 billion bucks).

“Regardless, the part of outside commitment that amounts to public commitment stayed at 39.26 percent in Q4 2023, while local commitment was recorded at 60.74 percent.”

In a breakdown by states, the division said that Lagos State kept the most essential local commitment of N1.05 trillion in Q4 2023, followed by Delta with N373.41 billion.

The report showed that Jigawa recorded the most insignificant local commitment at N42.76 billion, followed by Kebbi at N60.69 billion.

In like manner, it communicated that Lagos State recorded the most raised external commitment with 1.24 billion bucks, followed by Kaduna State with 587.07 million bucks.

“Borno recorded the most un-external commitment with 20.49 million bucks , followed by Yobe with 21.49 million bucks,” the NBS communicated.

By Hamsina

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