Nigeria’s total public debt has climbed to N149.39 trillion as of March 31, 2025. This was disclosed in the latest report from the Debt Management Office (DMO), highlighting a steady increase from the previous quarter.
The Federal Government is responsible for N74.89 trillion of the total debt, while the 36 states and the Federal Capital Territory collectively owe N3.87 trillion. The new figure represents a growth of N4.72 trillion or 3.3% from the N144.67 trillion recorded at the end of 2024.
A breakdown of the data shows that external debt rose slightly by 0.5%, an increase of N344 billion between December 2024 and March 2025. Although new external borrowings remained low in recent months, the continuous fall in the value of the Naira has worsened the country’s external debt burden.
Meanwhile, domestic debt jumped to N78.76 trillion by the end of the first quarter, compared to N65.65 trillion recorded in the same period last year.
A civil society organization (CSO) has raised concerns over the rising debt, warning that continued borrowing at this rate could push more Nigerians into poverty. The group emphasized that unless government spending is better managed, the growing debt profile could lead to increased hardship and economic instability for millions.
