Nigeria’s Public Debt Hits Record N149.3 Trillion

Nigeria’s Public Debt Hits Record N149.3 Trillion

Nigeria’s public debt has reached a record high of N149.3 trillion as of March 31, 2025, according to data from the Debt Management Office. This represents a significant increase from N144.6 trillion in December 2024.

The domestic debt component rose by N4.4 trillion between December 2024 and March 2025, growing from N74.3 trillion to N78.7 trillion. This suggests that the country is relying heavily on domestic sources for its loan portfolio.

External debt also saw an increase of N350 billion, rising from N70.28 trillion in December 2024 to N70.63 trillion as of March 2025.

A review of the debt profile shows a steady increase in Nigeria’s debt over time. The federal government alone owed N69.2 trillion in domestic debt as of September 2024, while states and the Federal Capital Territory owed N4.2 trillion.

The country’s debt profile has significant implications for its economic future. As the debt continues to rise, it is essential to monitor the situation closely and develop strategies to manage the debt effectively.