Nigeria’s total public debt stock has risen to ₦152.40 trillion as of June 30, 2025, according to new figures released by the Debt Management Office (DMO) on Saturday.
The figure represents an increase of ₦3.01 trillion, or 2.01%, from the ₦149.39 trillion recorded in March 2025. In dollar terms, the debt rose from $97.24 billion to $99.66 billion, marking a 2.49% rise within three months.
The DMO attributed the increase to fresh borrowing both domestically and externally to fund fiscal gaps, despite ongoing efforts to boost revenue and stabilise the exchange rate.
A breakdown of the report shows that external debt grew from $45.98 billion in March to $46.98 billion (₦71.85 trillion) by June. The World Bank remains Nigeria’s largest external creditor with $18.04 billion, representing 38% of total external obligations, largely through the International Development Association (IDA).
Multilateral lenders collectively hold $23.19 billion (49.4%), including the African Development Bank (AfDB), International Monetary Fund (IMF), and Islamic Development Bank (IsDB). Bilateral loans stood at $6.20 billion, led by China’s Exim Bank at $4.91 billion, followed by France, Japan, India, and Germany.
Commercial loans, primarily Eurobonds, amounted to $17.32 billion, representing 36.9% of total external debt, while $268.9 million came from syndicated facilities and commercial bank loans. Analysts warn that Nigeria’s heavy Eurobond exposure makes it more vulnerable to global market shocks.
On the domestic front, total debt climbed from ₦78.76 trillion in March to ₦80.55 trillion in June; an increase of ₦1.79 trillion or 2.27%. Federal Government bonds dominated with ₦60.65 trillion (79.2%), including ₦36.52 trillion in naira bonds, ₦22.72 trillion in securitised Ways and Means advances from the CBN, and ₦1.40 trillion in dollar bonds. Other instruments comprised Treasury Bills (₦12.76tn), Sukuk Bonds (₦1.29tn), Savings Bonds (₦91.53bn), Green Bonds (₦62.36bn), and Promissory Notes (₦1.73tn).