Nigeria’s total public debt stock rose to ₦166.79 trillion as of June 30, 2026, according to the latest figures released by the Debt Management Office (DMO).
The new figure represents an increase of ₦7.44 trillion compared with the ₦159.35 trillion recorded at the end of the first quarter of 2026.
The DMO published the latest debt figures on September 25, 2026, covering Nigeria’s total public debt position as of June 30, 2026.
Domestic and External Debt
According to the DMO data, domestic debt accounted for ₦91.59 trillion, representing 54.91 per cent of the country's total public debt.
The remaining portion was external debt.
In dollar terms, Nigeria’s total public debt stood at approximately $120.93 billion, based on the exchange rate used by the DMO for the June 30, 2026 debt position.
The DMO used the Central Bank of Nigeria's official exchange rate of ₦1,379.1842 to $1 as of June 30, 2026 to convert the external debt component into naira.
Federal Government Holds Majority Of Debt
The Federal Government of Nigeria accounted for the largest share of the country's public debt.
The DMO put the Federal Government's total debt at approximately ₦152.77 trillion, comprising:
₦86.99 trillion in domestic debt
₦65.77 trillion in external debt
States and the Federal Capital Territory accounted for the remaining ₦14.01 trillion, comprising domestic and external obligations.
The DMO continues to publish separate debt data for the Federal Government and sub-national governments as part of its public debt reporting.
FGN Bonds Remain Largest Domestic Debt Instrument
Federal Government bonds remained the largest component of the Federal Government's domestic debt portfolio.
The bonds stood at approximately ₦64.84 trillion, representing 74.53 per cent of FGN domestic debt.
Nigerian Treasury Bills followed with approximately ₦19.48 trillion, representing 22.39 per cent of the Federal Government's domestic debt.
Other instruments included:
FGN Sukuk: ₦1.19 trillion
Promissory Notes: ₦1.22 trillion
FGN Savings Bonds: ₦122.45 billion
FGN Green Bond: ₦47.36 billion
The DMO has also published the detailed Federal Government domestic debt stock by instrument for June 30, 2026.
What the Increase Means
The rise from ₦159.35 trillion in March to ₦166.79 trillion in June 2026 means Nigeria's public debt increased by about ₦7.44 trillion within three months.
However, the total debt figure alone does not show the full picture of the country's debt position. The composition of the debt, interest and debt-service obligations, revenue available to government, economic growth and the purposes for which borrowed funds are used are also important when assessing public debt.
The latest DMO publication provides the debt position as of June 30, 2026, rather than a real-time measure of Nigeria's current debt.
Nigeria's Debt Position in Context
The latest figures show that domestic borrowing continues to account for more than half of Nigeria's total public debt.
The DMO's publication of separate domestic, external, Federal Government and sub-national debt figures allows the public to see how the country's overall debt portfolio is distributed.
As government continues to borrow to finance expenditure and other obligations, the size and structure of the debt portfolio remain important issues for Nigeria's public finances.
0 Comments