Nigeria's public debt hits N166.79trn as FG borrowing adds N7.44trn in three months
By Aboki Forex —
Nigeria's total public debt rose to N166.79 trillion at the end of June 2026, an increase of N7.44 trillion in just three months, according to the latest data from the Debt Management Office (DMO).
The figure is 4.7 per cent higher than the N159.35 trillion debt stock recorded at the end of March 2026. The DMO published the portfolio on September 25, covering the Federal Government, the 36 states and the Federal Capital Territory.
Debt climbs 9.4% in one year
On a year-on-year basis, the debt rose by N14.39 trillion, or about 9.4 per cent, from N152.40 trillion at the end of June 2025. That June 2025 stock was equivalent to $99.66 billion at the time.
In dollar terms, total public debt stood at $120.93 billion as of June 30, 2026, compared with $99.66 billion a year earlier.
The DMO used the Central Bank of Nigeria's official exchange rate of N1,379 to $1 for the June 2026 calculation. The June 2025 portfolio was converted at about N1,529.21/$. The movement in the dollar value therefore also reflects changes in the exchange rate used to translate naira obligations.
Domestic debt still the bigger half
Domestic obligations remained the largest part of the portfolio at N91.59 trillion, or 54.91 per cent of the total. External debt stood at N75.20 trillion, representing 45.09 per cent.
Domestic debt rose by N11.04 trillion, about 13.7 per cent, from N80.55 trillion in June 2025. External debt increased by N3.35 trillion over the same period, from N71.85 trillion.
Federal borrowing dominates
The Federal Government carried the overwhelming share of the country's debt. Its total obligations stood at N152.77 trillion, made up of N86.99 trillion in domestic debt and N65.77 trillion in external obligations.
States and the FCT accounted for the remaining N14.01 trillion. That consists of about N4.59 trillion in domestic obligations and N9.42 trillion in external debt.
The numbers underline how heavily federal borrowing drives the national debt profile, with the Federal Government alone responsible for the bulk of both domestic and external liabilities.
The latest snapshot lands as the government balances its financing needs against the cost of servicing existing obligations. Domestic debt, which carries the bigger share of the burden, is also the faster-growing side of the ledger.