Nigeria's Domestic Debt Service Hits N3.14tn in Q1 2026

In the first quarter of 2026, Nigeria's federal government incurred N3.14 trillion in domestic debt servicing, marking a 20.3% rise from N2.61 trillion in the same period of 2025, according to the Debt Management Office (DMO). This expenditure included N2.97 trillion, or approximately 95%, allocated to interest payments, leaving only N169.68 billion for principal repayments.

The Q1 2026 figure also represented a 37.5% increase from N2.28 trillion in the fourth quarter of 2025. Domestic debt-service payments escalated monthly, starting at N741.82 billion in January, increasing to N967.67 billion in February, and reaching N1.43 trillion in March.

Interest payments surged from N726.38 billion in January to N1.28 trillion in March, totaling N2.969 trillion for the quarter. FGN bonds were the primary source of interest payments, totaling about N1.96 trillion.

The total public debt stock of Nigeria was N159.35 trillion as of March 31, 2026.