Nigeria’s rising debt highlights growing fiscal pressure and borrowing needs.
Nigeria’s total public debt rose to N159.28 trillion at the end of December 2025, according to new figures released by the Debt Management Office.
The latest data shows a quarterly increase of N5.98 trillion, or 3.9%, from N153.29 trillion recorded in September 2025. On a yearly basis, debt rose by N14.61 trillion, representing a 10.1% increase from December 2024.
In dollar terms, total debt climbed to 110.97 billion dollars, up from 94.23 billion dollars a year earlier. The figures were calculated using official exchange rates from the Central Bank of Nigeria.
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Domestic borrowing remained the largest component, rising to N84.85 trillion. This reflects continued reliance on the local market, with the federal government accounting for more than half of total public debt.
External debt also increased to N74.43 trillion, driven largely by federal government borrowing. Despite the overall rise, the balance between domestic and external debt remained broadly stable.
The growing debt burden underscores ongoing fiscal pressures, as authorities continue to fund budget deficits and infrastructure needs, raising concerns about long-term sustainability.
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