Nigeria’s public debt increased to ₦152.4tn in Q2 —DMO

Nigeria’s total public debt stock rose to ₦152.40 trillion as of June 30, 2025, according to new data released by the Debt Management Office (DMO) on Saturday.

The figure represents an increase of ₦3.01 trillion from the ₦149.39 trillion recorded at the end of March, marking an increase of 2.01 percent in three months. In dollar terms, the debt profile increased from $97.24 billion to $99.66 billion, an increase of 2.49 percent.

DMO attributed this growth to additional domestic loans and disbursement of funds from existing multilateral and bilateral facilities. The figures highlight the government’s reliance on debt to bridge fiscal gaps amid ongoing reforms in revenue mobilization and foreign exchange management.

Nigeria’s external debt reached $46.98 billion (₦71.85 trillion) in June, up from $45.98 billion (₦70.63 trillion) in March.

The World Bank remains the country’s largest external creditor, at $18.04 billion, accounting for about 38 percent of total external liabilities.

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Other multilateral partners, including the African Development Bank, IMF, and Islamic Development Bank, together hold $23.19 billion, or 49.4 percent of the external portfolio.
Bilateral loans totaled $6.20 billion, led by China Exim Bank with $4.91 billion, while Eurobond loans totaled $17.32 billion, representing 36.9 percent of external debt.

On the domestic side, debt increased from ₦78.76 trillion to ₦80.55 trillion.

Federal Government bonds totaled ₦60.65 trillion, along with Treasury bills of ₦12.76 trillion and Sukuk bonds of ₦1.29 trillion.

The DMO report also shows that the Federal Government accounts for ₦141.08 trillion (92.6%) of the total debt, while states and the Federal Capital Territory owe ₦11.32 trillion (7.4%).

Although the DMO emphasized that debt remains within sustainable limits, rising interest burdens and exchange rate risks could put pressure on future budgets and limit fiscal flexibility.