Nigeria’s public debt stock climbed to N152.39 trillion ($99.65 billion) in the second quarter of 2025, up from N149.38 trillion ($97.23 billion) recorded in Q1, the National Bureau of Statistics (NBS) has revealed.
According to the Nigerian Domestic and Foreign Debt Report for Q2 2025, released in Abuja on Monday, the country’s total debt, which combines external and domestic obligations, grew by 2.01 per cent quarter-on-quarter.
The report showed that domestic debt accounted for N80.55 trillion ($52.67 billion), representing 52.86 per cent of total debt, while external debt stood at N71.84 trillion ($46.98 billion), or 47.14 per cent of the total.
In a state-by-state breakdown, Lagos recorded the highest domestic debt at N1.04 trillion, followed by Rivers State with N364.39 billion. Jigawa had the lowest domestic debt at N852.49 million, with Ondo State next at N10.64 billion.
For external debt, Lagos again led with $1.04 billion, while Kaduna followed with $658.70 million. The Federal Capital Territory (FCT) recorded the lowest external debt of $19.26 million.
The NBS report highlights the growing burden of debt at both federal and subnational levels, raising concerns among economists and policy analysts about fiscal sustainability amid Nigeria’s slow economic growth.
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