Nigeria’s total public debt stock rose to $103.94 billion (N153.29 trillion) as of September 30, 2025. The figure released by Debt Management Office ( DMO) represents the third quarter of 2025 and that domestic debt stock rose to $55.47 billion, or about N81.82 trillion, accounting for 53.37 per cent of the country’s total exposure.

According to the DMO, external debt grossed $48.46 billion (N71.48 trillion), representing 46.63 per cent of the total debt stock with FGN Bonds accounting for N61.9 trillion of domestic debt, representing about 80 per cent of the domestic portfolio.

Within the domestic debt category, FGN Naira Bonds account for N60.64 trillion, while US dollar denominated bonds account for N1.35 trillion. Nigerian Treasury Bills amount to N12.68 trillion, representing 16.3 percent of total domestic debt, while Sukuk bonds are valued at N1.29 trillion.

A breakdown of the public debt by tiers of government shows that the Federal Government continues to account for the bulk of Nigeria’s debt exposure. States and the Federal Capital Territory (FCT) contribute smaller portion.

Debt owed by the Federal Government stands at $52.76 billion, equivalent to about N77.81 trillion, representing 50.76 percent of total public debt.

Debt owed by states and the FCT amounts to $2.71 billion, or about N4.00 trillion, contributing 2.61 per- cent of the total. “Domestic Debt Stock for 35 States and Federal Capital Territory were as at September 30, 2025, while Domestic Debt Stock of Rivers State was at June 30, 2025,” DMO noted.