The most recent publication by the Debt Management Office (DMO) states that as of March 31 2025, Nigeria’s total public debt increased to ₦149. 39 trillion.

Naijaonpoint reports that as of September 30, 2024, the country’s total public debt was ₦142.3 trillion.

The figure at the time reflected a 5.97 per cent increase from ₦134.3 trillion in June of the same year, according to data from the DMO.

However, the most recent figures for the country’s public debt reflect the debt of the Federal Capital Territory, the states, and the federal government.

A total of ₦74. 89 trillion is owed by the Federal Government, with the remaining ₦3. 87 trillion owed by the 36 states and the Federal Capital Territory (FCT).

This figure represents approximately ₦4.72 trillion, with a debt stock of ₦144 billion—a 3.3 per cent increase over the previous quarter.

According to the data, external debt increased by a negligible 0.5 cent between the end of 2024 and the end of March 2025 (₦344 billion).

Since the last quarter of 2024, the country has borrowed relatively little from outside sources, but the stock has suffered greatly as a result of the depreciation of the Naira.

At the end of the first quarter, domestic debt was ₦78. 76 trillion up from ₦65. 65 trillion in March 2024.