Nigeria’s Public Debt Rises to ₦152.40 Trillion in Q2 2025 as Weaker Naira Inflates Borrowing Costs

Nigeria’s Public Debt Rises to ₦152.40 Trillion in Q2 2025 as Weaker Naira Inflates Borrowing Costs
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Nigeria’s total public debt climbed to ₦152.40 trillion by June 2025, reflecting a ₦3.01 trillion quarterly increase.


Nigeria’s total public debt rose to ₦152.40 trillion as of June 30, 2025, up from ₦149.39 trillion in March, according to the Debt Management Office (DMO). The figure represents a 2.01% quarterly increase, driven partly by the depreciation of the naira against the dollar.

External debt grew to $46.98 billion (₦71.85 trillion), led by multilateral lenders such as the World Bank, which holds $18.04 billion. Eurobonds accounted for 36.9% of external obligations, highlighting exposure to global market volatility.

Domestic debt climbed to ₦80.55 trillion, dominated by long-term Federal Government bonds worth ₦60.65 trillion and Treasury bills totaling ₦12.76 trillion.

The Federal Government accounted for 92.6% of total debt, while states and the FCT owed ₦11.32 trillion. Analysts warn that Nigeria’s rising debt and weak revenue mobilisation could strain fiscal sustainability, as currency depreciation continues to inflate foreign obligations.


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