Nigeria’s total public debt has surged to N149.39 trillion as of March 31, 2025, according to the latest report released by the Debt Management Office (DMO).
The DMO explained that the nation’s public debt includes “the indebtedness of the federal and state governments, as well as the Federal Capital Territory.”
The data revealed that “the Federal Government owes N74.89 trillion, while the 36 states and the Federal Capital Territory (FCT) owe the balance of N3.87 trillion.”
The latest figure reflects an increase of N4.72 trillion or 3.3 percent compared to the previous quarter’s total debt of N144.67 trillion.
According to the DMO, “external debt rose minimally by 0.5 percent between the end of 2024 and the end of March 2025,” amounting to an increase of N344 billion.
The agency noted that although “the nation’s external borrowing has been quite low since the last quarter of 2024,” the depreciation of the Naira “has had a very negative effect on the stock.”
The report also showed that “domestic debt stood at N78.76 trillion as of the end of the first quarter compared to N65.65 trillion in March 2024.”