From Victor Osula Abuja
Nigeria’s total public debt stock rose to N152.39 trillion in the second quarter of 2025, driven largely by an uptick in domestic borrowing, according to figures published on Monday by the National Bureau of Statistics (NBS).
The new data shows a 2.01 percent increase from the N149.38 trillion recorded in the first quarter of 2025. By,
In dollar terms, the nation’s total public debt climbed to US$99.65 billion in Q2 2025, up from US$97.23 billion in the previous quarter.
A breakdown of the debt profile indicates that external debt stood at N71.84 trillion (US$46.98 billion), comprising obligations to multilateral agencies, bilateral partners, and commercial lenders.
Domestic debt, which continues to account for a significant share of the country’s total liabilities, rose to N80.55 trillion (US$52.67 billion) during the period under review.
The increase reflects the government’s sustained reliance on local borrowing to fund budget deficits, execute capital projects, and support macroeconomic stability efforts. By
Financial analysts note that while domestic borrowing helps cushion Nigeria from global interest rate shocks, the steady rise in total debt underscores the need for stronger revenue generation, improved fiscal discipline, and rigorous implementation of economic reforms.
