Nigeria's public debt climbs to N159.35 trillion as domestic borrowing rises

Nigeria’s total public debt edged up to N159.35 trillion as of March 31, 2026, an increase of N71.6 billion from the N159.28 trillion recorded at the end of December 2025, according to the Debt Management Office. Domestic debt made up 54.85% of the total (N87.40 trillion) while external debt accounted for 45.15% (N71.95 trillion), using the CBN’s official exchange rate of US$1/N1,386.2156. The external stock stood at $51.90 billion, with multilateral creditors holding 45.96%, commercial debt 35.73%, bilateral 12.69% and syndicated loans 5.51%. Domestically, FGN bonds remained the largest component at N63.45 trillion (76.56% of FGN domestic debt), followed by Treasury Bills at N16.57 trillion (19.99%). The rise continues a sharp upward trend since President Bola Tinubu assumed office, when total public debt was N87.38 trillion in June 2023; the 2024 fiscal deficit hit N13.51 trillion, pushing the deficit‑to‑GDP ratio above the legal limit set by the Fiscal Responsibility Act. Higher debt levels mean larger debt‑service charges, which could crowd out spending on infrastructure, health and education and may pressure the naira or lead to future tax adjustments. Will you factor in the growing debt burden when anticipating possible changes to public services, taxation or investment returns in your personal or business planning?

SOURCE: https://nairametrics.com/2026/08/08/nigerias-public-debt-rises-to-n159-35-trillion-in-q1-2026/