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Public debt climbs by N900bn to N153.29trn as at September 2025
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Domestic debt hits N81.81trn; external debt stands at N71.47trn
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DMO cites infrastructure funding, widening budget deficit
Nigeria’s total public debt rose to N153.29 trillion as of September 30, 2025, marking a N900 billion increase from the N152.39 trillion recorded in June, according to the Debt Management Office.
In a statement published on its website, the DMO disclosed that the debt stock comprises both domestic and external obligations owed by the federal government, the 36 states and the Federal Capital Territory (FCT).
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The report indicated that domestic debt stood at N81.81 trillion ($55.47 billion), with the federal government accounting for N77.81 trillion — up from N76.58 trillion in the second quarter. States and the FCT owed N4 trillion, slightly higher than the N3.96 trillion recorded in June.
External debt rose to N71.47 trillion ($48.46 billion), reflecting continued borrowing to finance government operations and capital projects.
The DMO attributed the increase to the federal government’s efforts to fund critical infrastructure amid persistent fiscal deficits. Nigeria’s 2026 budget is projected to record a deficit of at least N23.85 trillion, representing 4.28 percent of gross domestic product.
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The rising debt profile has intensified concerns about sustainability and revenue pressures.
In January 2025, the DMO refuted claims that the country’s debt surged from N21 trillion to N142 trillion under President Bola Ahmed Tinubu, clarifying that the debt stock stood at N87 trillion at the start of his administration.
Earlier in May 2025, the National Orientation Agency reported that both federal and state governments had reduced portions of their debt, supported by increased allocations from the Federation Account Allocation Committee (FAAC).
However, economists have cautioned that without a credible and sustainable fiscal strategy, Nigeria’s mounting debt burden could pose long-term risks to economic stability and effective public service delivery.
