Nigeria’s total public debt has risen to 153.29 trillion naira as of September 30, 2025, according to the Debt Management Office (DMO).
The new figure represents an increase of 900 billion naira from the 152.39 trillion naira recorded in June. The debt stock is projected to exceed 177 trillion naira by the end of 2026, largely due to a proposed 23.85 trillion naira budget deficit.
According to the report, domestic debt stood at 81.81 trillion naira, while external debt was 71.47 trillion naira. The federal government accounted for the bulk of domestic borrowing, while state governments and the Federal Capital Territory recorded slight increases.
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At the state level, Lagos remains the most indebted, followed by Rivers and Delta states. Jigawa recorded the highest increase in domestic debt, while Kogi and Ondo states posted notable reductions. The DMO also disclosed that 10.81 trillion naira was spent on debt servicing in the first nine months of 2025, raising fresh concerns about the country’s rising debt burden.
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