Nigeria's Public Debt Hits ₦153.3 Trillion by September 2025

As of September 30, 2025, Nigeria's public debt profile reached ₦153.3 trillion, reflecting a 0.59% increase from ₦152.4 trillion in June 2025. The Debt Management Office (DMO) reported that Nigeria spent ₦10.81 trillion on servicing outstanding debt obligations in the first nine months of 2025.

This amount includes ₦3.34 billion for external debt servicing, converted at a rate of ₦1,346 per dollar, and ₦6.32 trillion for domestic debt servicing. The rising debt levels have raised concerns amid socio-economic stress, with experts warning against further borrowing due to insufficient revenue generation.

The federal government's domestic debt accounted for ₦77.81 trillion, while state and FCT debts slightly increased to ₦4 trillion. The DMO's report highlights the challenges Nigeria faces, including a weak revenue base and high servicing costs, which consume a substantial portion of government revenue, raising fears of a potential debt trap.