LAGOS, April 15 – Nigeria’s total public debt rose to ₦159.28 trillion ($118 billion) as of December 31, 2025, according to data released by the Debt Management Office, reflecting continued borrowing across both domestic and external markets.
The latest figure marks an increase of ₦5.98 trillion, or 3.9%, from ₦153.29 trillion recorded at the end of September 2025 as year-on-year basis, debt climbed by ₦14.61 trillion, or 10.1%, from ₦144.67 trillion in December 2024.
In dollar terms, total public debt increased to $110.97 billion from $103.94 billion in September 2025, and from $94.23 billion a year earlier.
A breakdown of the data shows that domestic debt remained the largest component of the total debt stock, accounting for 53.27% as of December 2025.
Domestic borrowings rose to N#₦84.85 trillion from ₦81.82 trillion in September, representing a quarterly increase of N3.03 trillion. Compared to December 2024, domestic debt expanded by ₦10.47 trillion, indicating that it remained the primary driver of overall debt growth.
External debt stood at ₦74.43 trillion, representing 46.73% of total public debt. This reflects an increase of ₦2.95 trillion from the previous quarter and a rise of ₦4.14 trillion compared to the same period in 2024.
The Federal Government accounted for the bulk of the country’s debt, with N80.49 trillion in domestic obligations and ₦66.27 trillion in external borrowings. States and the Federal Capital Territory recorded ₦4.36 trillion and ₦8.16 trillion in domestic and external debt respectively.
Despite the increase, the composition of the debt remained broadly stable over the period, with a slight shift toward domestic borrowing compared to the previous year.
