Latest figures from the Debt Management Office (DMO) have revealed that the total public debt of Nigeria increased by N3.01 trillion or 2.01 per cent to N152.40 trillion in the second quarter of 2025 from the N149.39 trillion it was as of March 31, 2025.
In United States’ Dollar, the debt was up by 2.49 per cent to $99.66 billion in the period under review from $97.24 billion in the preceding quarter.
It was disclosed that the federal government accounted for over 92.6 per cent of the N152.40 trillion public debt, amounting to about N141.08 trillion, with N64.49 trillion as external debt and N76.59 trillion as local debt.
Business Post reports that the states accounted for 7.4 per cent of the debt, amounting to N11.32 trillion.
Data from the debt office said FGN bonds accounted for N60.7 trillion, with N36.5 trillion in FGN Naira bonds, N22.7 trillion as FGN securitized Ways and Means, and FGN domestic US Dollar bonds as N1.4 trillion.
The DMO clarified that the he FGN US Dollar bond of $917.4 million issued in September 6, 2024, outstanding as at June 2025 was converted to Naira using the CBN official exchange rate of NN1,529 per Dollar as of June 30, 2025.
In the data released by the debt office, it was stated that treasury bills accounted for N12.8 trillion of the total debt, while FGN Sukuk gulped about N1.3 trillion, FGN savings bonds taking N91.5 billion, and FGN green bonds accounting for N62.4 billion, with premissory notes taking N1.7 trillion.
It was explained that the Naira component of the promissory note is N4431.2 billion, and the foreign currency denominated promissory note is N1.3 trillion.
The foreign denominated promissory notes outstanding amount of $850.1 million and £98,526 as at June 2025 were converted to Naira using CBN official exchange rate of N1,529 per Dollar and N2,094 per Pound Sterling as of June 30, 2025.