Nigeria’s total public debt stock has risen to N166.79 trillion as of June 30, 2026, up from N159.35 trillion recorded as of March 31, 2026, according to the Debt Management Office (DMO).
The latest figures showed that domestic debt accounted for N91.59 trillion, representing 54.91% of the country’s total debt portfolio, while the total debt stood at $120.93 billion in US dollar terms.
The dollar-denominated figure comprises $54.52 billion in external debt and $66.41 billion in domestic debt. The DMO said it converted the external debt stock using the Central Bank of Nigeria’s official exchange rate of N1,379.1842/$ as of June 30, 2026.
The Federal Government remains the dominant borrower, accounting for about N152.77 trillion of the total debt, while states and the Federal Capital Territory accounted for approximately N14.01 trillion.
According to the DMO, the Federal Government’s external debt stood at N65.77 trillion, representing 39.44% of the total public debt, while states and the FCT accounted for N9.42 trillion, or 5.65%.
On the domestic side, the FGN owed N87 trillion, representing 52.16% of the total debt, while states and the FCT accounted for N4.59 trillion, or 2.75%.
FGN bonds remained the largest component of the Federal Government’s domestic debt, with an outstanding value of N64.84 trillion, representing 74.53% of its domestic debt.
The latest figures also showed that Nigerian Treasury Bills stood at N19.48 trillion, while FGN Sukuk amounted to N1.19 trillion and savings bonds stood at N122.45 billion.
The DMO data further showed that Nigeria’s public debt has increased significantly from N87.38 trillion recorded as of June 30, 2023, shortly after President Bola Tinubu assumed office.
External debt rose from $42.49 billion in December 2023 to $51.86 billion by December 2025, while domestic debt increased from N59.1 trillion to N89.4 trillion within the same period.
