Nigeria’s public debt rises to N159.28tn in December 2025 — DMO

Nigeria’s total public debt rose to N159.28 trillion as of December 31, 2025, according to the latest figures released by the Debt Management Office (DMO) on Tuesday.

The new figure marks an increase from N153.29 trillion recorded at the end of September 2025, representing a quarter-on-quarter rise of N5.98 trillion or 3.9 per cent.

The DMO noted that the December 2025 data is provisional and was converted using the Central Bank of Nigeria’s official exchange rate of N1,435.2571 to the dollar, compared to N1,474.85 used for the September 2025 figures.

On a year-on-year basis, Nigeria’s debt profile rose by N14.61 trillion or 10.1 per cent, increasing from N144.67 trillion in December 2024 to N159.28 trillion in December 2025. In dollar terms, this represents an increase from $94.23 billion to $110.97 billion.

Domestic debt remained the largest component, rising to N84.85 trillion in December 2025 from N81.82 trillion in September 2025. Compared to December 2024’s N74.38 trillion, domestic borrowing increased by N10.47 trillion or 14.1 per cent year-on-year.

The Federal Government accounted for the bulk of domestic debt at N80.49 trillion, while states and the Federal Capital Territory accounted for N4.36 trillion.

External debt stood at N74.43 trillion in December 2025, up from N71.48 trillion in September 2025 and N70.29 trillion in December 2024. In dollar terms, external debt rose to $51.86 billion from $48.46 billion in September 2025.

The Federal Government also dominated external borrowing with N66.27 trillion, while states and the FCT accounted for N8.16 trillion.

Despite the increase, the overall structure of Nigeria’s debt profile remained relatively stable, with domestic debt accounting for 53.27 per cent of total public debt and external debt making up 46.73 per cent as of December 2025.