Nigeria’s public debt rises to N159.28trn in 2025, says DMO 

Nigeria’s total public debt increased to N159.28 trillion as of December 31, 2025, according to the latest data released by the Debt Management Office (DMO) on Tuesday, reflecting a steady rise driven largely by domestic borrowing.

The figures show that total public debt rose from N153.29 trillion recorded at the end of September 2025 to N159.28 trillion in December 2025, indicating a quarter-on-quarter increase of N5.98 trillion or 3.9%.

In dollar terms, the debt stock climbed from $103.94 billion to $110.97 billion within the same period.

On a year-on-year basis, Nigeria’s public debt rose from N144.67 trillion in December 2024 to N159.28 trillion in December 2025, marking an increase of N14.61 trillion or 10.1per cent. In dollar terms, this represents a rise from $94.23 billion to $110.97 billion, an increase of $16.75 billion.

A breakdown of the data shows that domestic debt remained the largest contributor to Nigeria’s total debt stock, accounting for 53.27per cent as of December 2025.

Domestic debt rose from N81.82 trillion in September 2025 to N84.85 trillion in December 2025, representing a quarter-on-quarter increase of N3.03 trillion or 3.7per cent. Compared to December 2024, when domestic debt stood at N74.38 trillion, the figure increased by N10.47 trillion or 14.1per cent year-on-year.

In dollar terms, domestic debt rose from $55.47 billion in September 2025 to $59.12 billion in December 2025, and from $48.44 billion in December 2024, highlighting a sustained reliance on the domestic market for financing.

The Federal Government accounted for the bulk of domestic debt at N80.49 trillion, representing 50.53% of total public debt, while states and the Federal Capital Territory accounted for N4.36 trillion.

Nigeria’s external debt stood at N74.43 trillion as of December 2025, representing 46.73per cent of total public debt.

This reflects a quarter-on-quarter increase of N2.95 trillion from N71.48 trillion in September 2025, and a year-on-year increase of N4.14 trillion from N70.29 trillion recorded in December 2024.

In dollar terms, external debt rose from $48.46 billion in September 2025 to $51.86 billion in December 2025, and from $45.78 billion in December 2024.

The Federal Government continued to dominate external borrowing, accounting for N66.27 trillion of the total external debt, while states and the FCT accounted for N8.16 trillion.