KEY POINTS
- Nigeria’s total public debt hit N159.27 trillion in Q4 2025, a 10 percent year-on-year rise and N5.98 trillion above the Q3 2025 level
- Domestic debt grew 14.1 percent year-on-year to N84.84 trillion, outpacing the overall debt increase
- The federal government accounted for N80.48 trillion of domestic debt and N66.26 trillion of external debt in Q4 2025
Nigeria’s total public debt rose 10 percent year-on-year to N159.27 trillion at the end of the fourth quarter of 2025, up from N144.67 trillion in the same period of 2024, the Debt Management Office reported.
The figure also marks a N5.98 trillion increase from the N153.29 trillion recorded at the close of the third quarter of 2025. DMO said the Nigeria public debt profile covers domestic and external obligations of the federal government, all 36 states and the Federal Capital Territory.
Total domestic debt reached N84.84 trillion ($59.11 billion) at the end of December 2025, while external debt stood at N74.42 trillion ($51.85 billion), converted at the Central Bank of Nigeria’s official rate of N1,435.25 per dollar.
Federal government holds bulk of domestic debt stock
Meanwhile, domestic debt grew N10.47 trillion, or 14.1 percent, from the N74.38 trillion recorded in December 2024. External debt rose N4.14 trillion from N70.29 trillion over the same period.
Furthermore, the federal government accounted for N80.48 trillion of the domestic debt total in Q4 2025, up N2.67 trillion from the third quarter. States and the FCT held N4.36 trillion in domestic obligations, rising from N3.96 trillion in the prior quarter.
External debt shows federal government leads with N66trn
Additionally, the federal government held N66.26 trillion of the external debt stock in Q4 2025, while states and the FCT owed N8.15 trillion ($5.68 billion) in foreign obligations.
Domestic debt expanded at a faster 14.1 percent year-on-year, outpacing the overall 10 percent rise in total public debt. Moreover, the Nigeria public debt total of N159.27 trillion marks a N14.6 trillion increase above the corresponding Q4 2024 figure, reflecting a full year of federal and state borrowing across domestic and external markets.
