… Domestic Obligations Account For N91.59tn — DMO
Total Debt Rises 4.7% Between March, June
FG Shoulders N152.77tn Burden
Daud Olatunji
Nigeria’s total public debt stock has risen to N166.79tn as of June 30, 2026, representing a N7.44tn increase in three months, according to the latest figures released by the Debt Management Office.
The DMO, in its public debt portfolio report released on Friday, said the latest figure represented a 4.7 per cent increase from the N159.35tn recorded at the end of the first quarter of 2026.
The debt stock also increased by N14.39tn, or 9.4 per cent, compared with the N152.40tn recorded at the end of June 2025.
The latest figures show that Nigeria’s public debt continued to rise during the second quarter of the year, with domestic obligations accounting for more than half of the total debt stock.
According to the DMO, domestic debt stood at N91.59tn, representing 54.91 per cent of the total debt, while external debt amounted to N75.20tn, accounting for 45.09 per cent.
The agency said domestic debt increased by N11.04tn, or 13.7 per cent, from N80.55tn recorded in June 2025.
External debt also rose during the period, increasing by N3.35tn, or 4.7 per cent, from N71.85tn in June 2025.
A breakdown of the latest debt figures showed that the Federal Government accounted for the bulk of the country’s debt obligations.
The DMO put the Federal Government’s total debt at N152.77tn, comprising N86.99tn in domestic debt and N65.77tn in external debt.
States and the Federal Capital Territory accounted for the remaining N14.01tn, made up of N4.59tn domestic debt and N9.42tn external debt.
The latest figures underline the dominant contribution of federal obligations to Nigeria’s overall public debt stock.
In dollar terms, the DMO said Nigeria’s total public debt stood at $120.93bn as of June 30, 2026.
This compares with $99.66bn recorded at the end of June 2025.
The agency explained that the external debt component was converted to naira using the Central Bank of Nigeria’s official exchange rate of N1,379 to the dollar as of June 30, 2026.
The new debt figure comes amid continued government borrowing to finance public expenditure and meet fiscal obligations, with debt servicing and the cost of financing remaining key issues in discussions around Nigeria’s fiscal position.
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