Nigeria’s total public debt stock rose to N166.79 trillion as of June 30, 2026, up from N159.35 trillion recorded as of March 31, 2026, with domestic debt accounting for N91.59 trillion, or 54.91 per cent of the total debt portfolio.

The latest figures released by the Debt Management Office put Nigeria’s total public debt at $120.93 billion in US dollar terms, comprising $54.52 billion in external debt and $66.41 billion in domestic debt.

The DMO converted the external debt stock using the Central Bank of Nigeria’s official exchange rate of N1,379.1842/$ as of June 30, 2026.

The Federal Government of Nigeria (FGN) accounted for the largest share of both domestic and external debt, with its obligations making up the bulk of the country’s N166.79 trillion public debt portfolio.

FGN external debt stood at N65.77 trillion, representing 39.44 per cent of total public debt.

States and the Federal Capital Territory (FCT) accounted for N9.42 trillion, or 5.65 per cent, in external debt.

FGN domestic debt stood at N87.00 trillion, representing 52.16 per cent of total public debt.

States and the FCT accounted for N4.59 trillion, or 2.75 per cent, of domestic debt.

Overall, the Federal Government accounted for about N152.77 trillion of the total public debt, while states and the FCT accounted for approximately N14.01 trillion.

These figures show that the federal government remains the dominant borrower within Nigeria’s public debt structure, particularly on the domestic side.

FGN bonds remained the largest component of the Federal Government’s domestic debt portfolio, with an outstanding value of N64.84 trillion, representing 74.53 per cent of FGN domestic debt.

FGN Naira bonds accounted for N41.47 trillion, while securitised Ways and Means advances stood at N22.11 trillion.

The outstanding FGN domestic US dollar bond was valued at N1.27 trillion after conversion at the June 30 exchange rate.

Nigerian Treasury Bills accounted for N19.48 trillion, representing 22.39 per cent of FGN domestic debt.

FGN Sukuk stood at N1.19 trillion, while FGN savings bonds amounted to N122.45 billion.

The Federal Government’s green bond stock stood at N47.36 billion, while promissory notes totalled N1.22 trillion.

The promissory notes comprised N206.82 billion in naira-denominated instruments and N1.01 trillion in foreign-currency-denominated notes. The DMO also reported N100 billion under other instruments, specifically UFTF FGN securities.

Nigeria’s total public debt had risen marginally to N159.35 trillion as of March 31, 2026, from N159.28 trillion at the end of December 2025.

Nigeria’s public debt and debt servicing obligations have risen sharply under the current administration of President Bola Tinubu.

According to the DMO data, total public debt stood at N87.38 trillion as of June 30, 2023, shortly after Tinubu assumed office.

Nigeria’s total external debt rose from $42.49 billion in December 2023 to $51.86 billion by December 2025, while domestic debt increased from N59.1 trillion to N89.4 trillion within the same period.