President Bola Ahmed Tinubu
Nigeria’s total public debt has risen to N159.28 trillion as of December 31, 2025, with each citizen effectively carrying an average debt burden of about N724,000, according to figures released by the Debt Management Office (DMO).
The increase reflects a continued upward trend in the nation’s borrowing, driven largely by increased domestic debt. Notably, this figure excludes the recently approved N8.3 trillion loan from the United Arab Emirates and UK Export Finance, suggesting the total debt could rise further in the near future.
With an estimated population of 220 million people, the data highlights the growing financial weight on citizens. The debt rose from N153.29 trillion in September 2025 to N159.28 trillion in December 2025—an increase of N5.98 trillion, representing a 3.9% quarterly growth. On a year-on-year basis, the debt expanded by N14.61 trillion (10.1%) from N144.67 trillion recorded in December 2024. In dollar terms, it increased from $103.94 billion to $110.97 billion.
Domestic debt remains the largest portion, accounting for 53.27% of the total at N84.85 trillion. Of this, the Federal Government holds N80.49 trillion, while states and the Federal Capital Territory account for N4.36 trillion, underscoring a strong reliance on local borrowing.
External debt stands at N74.43 trillion, making up 46.73% of the total. In dollar terms, this amounts to $51.86 billion. The Federal Government is responsible for N66.27 trillion of this, while states and the FCT account for N8.16 trillion.
The rising debt profile continues to raise concerns about fiscal sustainability, particularly as debt servicing obligations increase. The Central Bank of Nigeria (CBN) projects that the country’s debt-to-GDP ratio could reach approximately 34% by 2026, indicating ongoing borrowing relative to economic output.
Social Plugin