Nigeria’s debt rose again in 2025, as the Debt Management Office reported on Tuesday.
Total public debt reached ₦159.28 trillion by December 31, 2025, rising from ₦153.29 trillion in September.
As a result, the country recorded a quarterly increase of nearly ₦6 trillion, marking a 3.9% rise.
Meanwhile, in dollar terms, the debt grew from $103.94 billion to $110.97 billion within three months.
Over one year, Nigeria’s debt expanded from ₦144.67 trillion in December 2024 to ₦159.28 trillion.
Consequently, the total debt increased by ₦14.61 trillion, reflecting a 10.1% year-on-year growth.
Domestic Borrowing Dominates
Notably, domestic borrowing remained the largest contributor, accounting for 53.27% of total public debt.
At the same time, local debt rose from ₦81.82 trillion in September to ₦84.85 trillion in December.
Compared to 2024, domestic debt increased from ₦74.38 trillion, showing a ₦10.47 trillion rise.
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The Federal Government held ₦80.49 trillion of domestic debt, while states and the FCT held less.
Nigeria’s Debt Increases
On the other hand, external debt stood at ₦74.43 trillion, making up 46.73% of total debt.
It also increased from ₦71.48 trillion in September and ₦70.29 trillion in December 2024.
In dollar terms, external debt rose to $51.86 billion from $48.46 billion over the quarter.
The Federal Government accounted for ₦66.27 trillion of external debt, dominating foreign borrowing.
Structure Remains Stable
Overall, the debt structure remained stable, with domestic borrowing slightly higher than external loans.
Finally, the Central Bank of Nigeria provided exchange rates, while December data remains provisional.
