Nigeria’s Public Debt Climbs N7.44tn in Three Months to N166.79tn
Nigeria’s public debt stock rose by N7.44 trillion between March and June 2026, reaching N166.79 trillion as the government continued to rely heavily on domestic and external borrowing to finance its obligations.
The latest figures from the Debt Management Office show that domestic debt accounted for N91.59 trillion, representing about 55 per cent of the total, while external liabilities made up the balance. In dollar terms, the country’s combined debt stood at $120.93 billion as of June 30.
The Federal Government accounted for N152.77 trillion of the total debt, comprising N86.99 trillion in domestic obligations and N65.77 trillion in external debt. State governments and the Federal Capital Territory jointly accounted for the remaining N14.01 trillion.
Federal government bonds remained the largest component of domestic borrowing at N64.84 trillion, followed by Nigerian Treasury Bills at N19.48 trillion. Other instruments included Sukuk, promissory notes, savings bonds and green bonds, reflecting the range of financing tools being used to raise funds.
The latest increase puts greater attention on how government borrowing is managed as debt obligations continue to expand. The composition of the portfolio also shows the dominant role of domestic borrowing in Nigeria’s public debt, while foreign-currency liabilities continue to expose the country to exchange-rate pressures.
