Nigeria’s total public debt rose to N153.29 trillion as of September 30, 2025, marking an increase of N900 billion within three months, according to the Debt Management Office (DMO).
The latest figures represent a 0.59 per cent rise from the N152.39 trillion recorded at the end of June 2025, underscoring the Federal Government’s continued reliance on borrowing to finance budget deficits and fund infrastructure development.
The DMO stated that the debt stock comprises both domestic and external obligations owed by the Federal Government, the 36 states, and the Federal Capital Territory (FCT).
A breakdown of the data shows that the Federal Government remains the dominant contributor to the country’s debt profile. Federal domestic debt increased from N76.58 trillion in June to N77.81 trillion in September, accounting for a significant portion of the overall growth recorded during the period.
Subnational governments also posted a marginal rise in domestic borrowings. The combined domestic debt of the 36 states and the FCT moved from N3.96 trillion in June to N4 trillion by the end of September. Although the increase at the state level was relatively modest, it contributed to the overall upward movement in the nation’s debt stock.
The steady climb in borrowing reflects ongoing fiscal pressures, including revenue constraints and the need to finance public expenditure across critical sectors.
Earlier in the year, the DMO dismissed reports suggesting that Nigeria’s debt had jumped from N21 trillion to N142 trillion under President Bola Tinubu. The agency clarified that the country’s total public debt stood at N87 trillion when the current administration assumed office.
.