Nigeria’s public debt stock rose from N149.38 trillion ($97.23 billion) in the first quarter of 2025 to N152.39 trillion ($99.65 billion) in the second quarter, the National Bureau of Statistics (NBS) reported on Monday.
According to the NBS Nigerian Domestic and Foreign Debt Report for Q2 2025, the increase represents a 2.01 per cent growth on a quarter-on-quarter basis. The report noted that Nigeria’s public debt comprises both domestic and external borrowings.
External debt stood at N71.84 trillion ($46.98 billion), while domestic debt was N80.55 trillion ($52.67 billion) in the period. The share of external debt to total public debt in naira value was 47.14 per cent, while domestic debt accounted for 52.86 per cent.
The report provided a breakdown by states, showing that Lagos State recorded the highest domestic debt at N1.04 trillion, followed by Rivers State with N364.39 billion. Jigawa State had the lowest domestic debt at N852.49 million, followed by Ondo State with N10.64 billion.
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Lagos State also recorded the highest external debt in Q2 2025 at $1.04 billion, followed by Kaduna State with $658.70 million. The Federal Capital Territory recorded the lowest external debt at $19.26 million.
The report underscores the continued growth of Nigeria’s debt stock, highlighting the need for careful management to ensure fiscal sustainability.