Nigeria's total public debt has reached N166.79 trillion as of June 30, 2026, according to the Debt Management Office (DMO). This represents a 9.4 percent increase from the N152.4 trillion recorded at the end of June 2025. The DMO released the latest public debt portfolio report on Friday, highlighting the country's growing debt burden.
The debt stock comprises N91.59 trillion in domestic debt, accounting for 54.91 percent of the total debt stock, and N75.2 trillion in external debt, representing 45.09 percent. The domestic debt increased by N11.04 trillion (13.7 percent) from N80.55 trillion recorded in June 2025, while external debt rose by N3.35 trillion (4.7 percent) from N71.85 trillion in the same period.
The federal government accounted for N152.77 trillion of the total debt stock, comprising N86.99 trillion in domestic debt and N65.77 trillion in external debt. States and the Federal Capital Territory (FCT) accounted for the remaining N14.01 trillion — N4.59 trillion in domestic debt and N9.42 trillion in external debt. This breakdown highlights the significant contribution of the federal government to Nigeria's debt burden.
In dollar terms, Nigeria's total public debt stood at $120.93 billion as of June 30, 2026, up from $99.66 billion recorded in June 2025. The DMO used the Central Bank of Nigeria (CBN) official exchange rate of N1,379 per dollar as of June 30 to convert the external debt to naira. This conversion highlights the impact of exchange rates on Nigeria's debt burden.
Compared to the first quarter (Q1) of 2026, Nigeria's public debt increased by N7.44 trillion or 4.7 percent from the N159.35 trillion recorded at the end of Q1. This recent surge in debt has significant implications for the country's economic stability and growth prospects. The DMO's report highlights the need for careful management of Nigeria's debt.
The increasing debt burden has raised concerns about Nigeria's economic sustainability and the potential risks associated with high debt levels. The DMO's report is expected to inform policy decisions aimed at managing the country's debt and promoting economic growth. Stakeholders will be watching closely to see how the government responds to these latest debt figures.
The Debt Management Office plays a critical role in managing Nigeria's debt and ensuring that it remains sustainable. The office will continue to monitor the country's debt situation and provide updates to stakeholders. Effective debt management is essential for promoting economic stability and growth in Nigeria.
Key points
- Nigeria's public debt has risen to N166.79 trillion as of June 30, 2026.
- The debt stock comprises N91.59 trillion in domestic debt and N75.2 trillion in external debt.
- Nigeria's total public debt increased by N7.44 trillion or 4.7 percent from the first quarter of 2026.
