Ripples as Nigeria’s public debt rises to N166.79 trillion

Nigeria’s total public debt stock climbed to N166.79 trillion as of June 30, 2026, according to the Debt Management Office (DMO).

The latest figure was contained in the DMO’s public debt portfolio report released on Friday.

The debt stock increased by N7.44 trillion, representing a 4.7 percent rise from the N159.35 trillion recorded at the end of the first quarter (Q1) of 2026.

Compared with the N152.4 trillion recorded at the end of June 2025, the latest figure represents an increase of N14.39 trillion, or 9.4 percent.

According to the report, domestic debt stood at N91.59 trillion, accounting for 54.91 percent of the total public debt, while external debt amounted to N75.2 trillion, representing 45.09 percent.

The DMO said domestic debt rose by N11.04 trillion, or 13.7 percent, from N80.55 trillion recorded in June 2025.

External debt also increased by N3.35 trillion, representing a 4.7 percent rise from the N71.85 trillion recorded during the same period.

The federal government accounted for the largest share of the debt stock at N152.77 trillion, comprising N86.99 trillion in domestic debt and N65.77 trillion in external debt.

States and the Federal Capital Territory (FCT), meanwhile, accounted for N14.01 trillion of the total debt. This comprised N4.59 trillion in domestic debt and N9.42 trillion in external debt.

In dollar terms, Nigeria’s total public debt stood at $120.93 billion as of June 30, 2026, compared with $99.66 billion recorded in June 2025.

The DMO said the Central Bank of Nigeria (CBN) official exchange rate of N1,379 to the dollar as of June 30, 2026, was used to convert the external debt component into naira.