According to the most recent figures given by the Debt Management Office (DMO), Nigeria’s overall public debt increased from N149.39 trillion at the end of March to N152.40 trillion as of June 30, 2025. In dollar terms, the debt stock increased from $97.24 billion to $99.66 billion, showing a 2.49% rise, while the amount indicates a quarterly growth of N3.01 trillion, or 2.01%. The report states that external debt increased from $45.98 billion (N70.63 trillion) in Marc to $46.98 billion (N71.85 trillion) in June. With a total of $23.19 billion, or 49.4% of foreign obligations, multilateral lenders continue to be Nigeria’s biggest borrowers. With $18.04 billion in outstanding debt, the World Bank is the single biggest lender through the International Development Association (IDA)In the meantime, commercial borrowings totaled $17.32 billion, nearly all of which were Eurobonds, accounting for 36.9% of the external portfolio; an additional $268.9 million was owed under syndicated facilities and commercial bank loans; and bilateral loans totaled $6.20 billion, with the Export-Import Bank of China leading the pack with $4.91 billion, followed by smaller exposures to France, Japan, India, and Germany. On the domestic front, Nigeria’s debt increased from N78.76 trillion in March to N80.55 trillion by June, an increase of N1.79 trillion. Federal Government bonds remained dominant, accounting for N60.65 trillion, or 79.2% of total domestic debt, consisting of N36.52 trillion in naira-denominated bonds, N22.72 trillion in securitized Ways and Means advances, and N1.40 trillion in dollar bonds.
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