Delta State's Debt Surge Drives Nigeria's Total to N4.59 Trillion

In the second quarter of 2026, Nigeria's 36 states and the Federal Capital Territory (FCT) saw their combined domestic debt increase by N67.57 billion, totaling N4.59 trillion as of June 30, 2026. This increase was primarily driven by Delta State, which recorded a significant rise in its domestic debt from N213.85 billion to N369.30 billion, an increase of N155.45 billion.

This figure alone accounted for more than double the overall rise in domestic debt across all states and the FCT, as many subnational governments experienced reductions in their debt stocks. Following Delta, Edo and Adamawa also reported increases in their debts.

Despite a decline in its debt during the quarter, Lagos maintained the largest domestic debt stock among the states. Collectively, Lagos, Delta, the FCT, and Rivers represented approximately 49.5% of the total domestic debt stock.

At the lower end, Jigawa had the smallest domestic debt at N1.04 billion.