Nigeria’s public debt has increased to N152.39 trillion, equivalent to $99.65 billion, in the second quarter of 2025. This represents a 2.01% growth from the first quarter, according to the National Bureau of Statistics’ Nigerian Domestic and Foreign Debt Report. The country’s external debt stands at N71.84 trillion, or $46.98 billion, while domestic debt is N80.55 trillion, or $52.67 billion.
The report reveals that the share of external debt to total public debt is 47.14%, with domestic debt accounting for 52.86%. A breakdown by states shows that Lagos State has the highest domestic debt of N1.04 trillion, followed by Rivers State with N364.39 billion. In contrast, Jigawa has the lowest domestic debt of N852.49 million, followed by Ondo State with N10.64 billion.
In terms of external debt, Lagos State also tops the list with $1.04 billion, followed by Kaduna State with $658.70 million. The Federal Capital Territory has the lowest external debt of $19.26 million. These figures indicate a significant variation in debt levels across different states in Nigeria.
The increase in public debt is a significant development, given the country’s economic challenges. Nigeria’s debt stock has been rising over the years, with the government seeking to finance its budget deficits and fund infrastructure projects. The National Bureau of Statistics’ report provides valuable insights into the country’s debt profile, highlighting the need for effective debt management and fiscal discipline.
The Nigerian government has been working to diversify its economy and reduce its reliance on oil revenues, which have been affected by global price fluctuations. The country’s debt situation will likely remain a key focus area for policymakers, as they seek to balance the need for investment in critical infrastructure with the risk of rising debt levels. As Nigeria continues to navigate its economic challenges, the latest debt figures will be closely watched by investors, analysts, and citizens alike.
