Nigeria’s public debt has risen to ₦152.40 trillion as of June 30, 2025, an increase of ₦3.01 trillion in just three months, according to the Debt Management Office. The weakening naira, pegged at ₦1,529.21 to the dollar, has further inflated the debt burden, with external obligations hitting $46.98 billion.
The World Bank remains Nigeria’s largest creditor, while domestic debt has grown to ₦80.55 trillion, dominated by federal bonds and securitised Ways and Means advances, a reflection of deepening fiscal strain.
This steady rise in borrowing underscores the urgent need for stronger revenue mobilization. Although Nigeria’s debt-to-GDP ratio is still within limits, the soaring cost of debt servicing poses sustainability risks. Experts say boosting non-oil revenue, improving tax collection, and curbing excessive borrowing are key to easing pressure on public finances and securing long-term economic stability.
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