Nigeria’s total public debt climbed to ₦159.28 trillion as of December 2025, according to new data released by the Debt Management Office (DMO).
The figure represents a ₦5.98 trillion increase from the ₦153.29 trillion recorded in September 2025, marking a 3.9 percent quarterly rise.
Year-on-year, the country’s debt stock rose by ₦14.61 trillion from ₦144.67 trillion in December 2024.
Domestic borrowing remains the dominant component, accounting for over half of Nigeria’s debt portfolio at ₦84.85 trillion, while external debt stands at ₦74.43 trillion.
The federal government alone accounts for more than ₦80 trillion of the domestic debt and over ₦66 trillion of the external debt.
Analysts warn that the country’s rapidly expanding debt profile could place additional pressure on public finances, particularly as revenue generation continues to lag behind rising borrowing needs.
Critics have repeatedly questioned the government’s borrowing strategy, arguing that increasing debt without corresponding economic expansion risks deepening Nigeria’s fiscal vulnerability.
