Nigeria's domestic debt payments fall N1T in Q2 despite total debt rising to N166.79 trillion
Nigeria's domestic debt-service payments fell by about N1 trillion to N2.14 trillion in Q2 2026, down from N3.14 trillion in Q1—a 31.8% quarterly decline per DMO data. Interest and rental payments totaled N1.98 trillion (driven by N1.39 trillion in FGN bond interest), while principal repayments were just N164.28 billion.
Monthly breakdown shows FGN bond interest: N530.84B in April, N332.49B in May, N525.05B in June; NTB interest: N488.80B total; FGN Sukuk rentals: N92.29B. Principal repayments concentrated in June at N136.96B.
This occurred despite total public debt rising to N166.79 trillion (from N159.35 trillion), with domestic debt at N91.59 trillion. The debt service drop follows a sharp Q1 increase that was 37.5% above Q4 2025 levels.
With quarterly debt payments falling while overall debt grows, should you expect shifts in government priorities affecting subsidies, infrastructure projects, or tax policies that impact your household budget?