NIGERIA’S total public debt climbed to N166.79 trillion as of June 30, 2026, following an increase of N7.44 trillion in the second quarter (Q2), according to the Debt Management Office (DMO).
The latest figure represents a 4.7 percent increase from the N159.35 trillion recorded at the end of March 2026, highlighting the continued expansion of the country’s debt portfolio.
The DMO disclosed the figures in its latest public debt report released on Friday.
Year-on-year, the country’s debt stock rose by N14.39 trillion, or 9.4 percent, from N152.4 trillion recorded at the end of June 2025.
The increase was driven by growth in both domestic and external borrowings, with domestic debt accounting for more than half of the total.
Domestic debt accounts for 54.91% of total
Domestic debt stood at N91.59 trillion as of June 2026, representing 54.91 percent of Nigeria’s total public debt.
This was an increase of N11.04 trillion, or 13.7 percent, compared with N80.55 trillion recorded in June 2025. External debt rose to N75.2 trillion, accounting for the remaining 45.09 percent of the total debt stock.
The figure represents an increase of N3.35 trillion, or 4.7 percent, from N71.85 trillion recorded a year earlier.
The data show that domestic debt contributed a larger share of the annual increase in the country’s overall debt stock than external obligations.
READ ALSO: How Nigeria’s public debt jumped by N14.61tn in 2025 – DMO
Federal government accounts for bulk of debt
The Federal Government accounted for N152.77 trillion of the total public debt as of June 30, 2026. Of this amount, N86.99 trillion was domestic debt, while external obligations stood at N65.77 trillion.
States and the Federal Capital Territory (FCT) jointly accounted for N14.01 trillion, comprising N4.59 trillion in domestic debt and N9.42 trillion in external borrowings.
The figures show that the Federal Government remains responsible for the bulk of Nigeria’s outstanding public debt, while subnational governments hold a comparatively smaller share.
Public debt rises to $120.93bn
In dollar terms, Nigeria’s total public debt increased to $120.93 billion at the end of June 2026, up from $99.66 billion in the corresponding period of 2025.
READ ALSO: Nigeria to spend $11.6bn on debt servicing in 2026, up 130% from 2025
The DMO said it used the Central Bank of Nigeria’s official exchange rate of N1,379 per dollar as of June 30, 2026, to convert the external debt stock into naira.
The exchange rate is relevant to the naira value of foreign-currency obligations, meaning movements in the exchange rate can affect the reported naira equivalent of external debt.
The latest figures cover the obligations of the Federal Government, state governments and the FCT as of the end of Q2 of 2026.
