Nigeria’s total public debt has climbed to N159.28 trillion as of December 31, 2025, translating to an average burden of about N724,000 per citizen, according to data from the Debt Management Office (DMO).
The increase reflects a steady rise in the country’s debt profile, largely driven by higher domestic borrowing. The figure does not include the recently approved N8.3 trillion loan from the United Arab Emirates and UK Export Finance, indicating that total debt may increase further.
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With an estimated population of 220 million, the data suggests each Nigerian carries a significant share of the national debt. The debt rose from N153.29 trillion in September 2025 to N159.28 trillion in December 2025, representing a quarterly increase of N5.98 trillion (3.9%). On a year-on-year basis, it grew by N14.61 trillion (10.1%) from N144.67 trillion recorded in December 2024. In dollar terms, it increased from $103.94 billion to $110.97 billion.
Domestic debt remains the largest component, accounting for 53.27% of the total at N84.85 trillion. The Federal Government holds N80.49 trillion, while states and the FCT account for N4.36 trillion, highlighting reliance on local borrowing.
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External debt stood at N74.43 trillion (46.73%), rising from previous periods. In dollar terms, it reached $51.86 billion, with the Federal Government responsible for N66.27 trillion and states and the FCT N8.16 trillion.
The rising debt profile has raised concerns over fiscal sustainability, especially amid growing debt servicing obligations. The Central Bank of Nigeria (CBN) projects the country’s debt-to-GDP ratio to reach about 34% by 2026, reflecting continued borrowing relative to economic output.
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