Nigeria’s Public Debt Rises To N166.79trn In Three Months

Nigeria’s total public debt rose to N166.79 trillion as of June 30, 2026, according to the latest report by the Debt Management Office (DMO).

The figure represents a N7.44 trillion, or 4.7 percent, increase from the N159.35 trillion recorded at the end of the first quarter of 2026.

Compared with June 2025, the country’s public debt stock increased by N14.39 trillion, or 9.4 percent, from N152.4 trillion.

The DMO’s latest public debt portfolio report, published on Friday, showed that domestic debt accounted for the larger share of the total debt at N91.59 trillion, representing 54.91 percent.

External debt stood at N75.2 trillion, accounting for the remaining 45.09 percent.

Domestic debt increased by N11.04 trillion, or 13.7 percent, from N80.55 trillion recorded in June 2025, while external debt rose by N3.35 trillion, or 4.7 percent, from N71.85 trillion over the same period.

Federal Government Holds Majority

The Federal Government accounted for N152.77 trillion of Nigeria’s total public debt as of June 30.

The figure comprised N86.99 trillion in domestic debt and N65.77 trillion in external debt.

States and the Federal Capital Territory accounted for the remaining N14.01 trillion, comprising N4.59 trillion in domestic debt and N9.42 trillion in external debt.

In dollar terms, the DMO put Nigeria’s total public debt at $120.93 billion as of June 30, compared with $99.66 billion recorded in June 2025.

The agency said the external debt component was converted to naira using the Central Bank of Nigeria’s official exchange rate of N1,379 to the dollar as of June 30, 2026.