Nigeria’s total public debt has reached N159.28 trillion as of December 31, 2025, which means that each citizen effectively owes approximately N724,000, according to the Debt Management Office (DMO).
This increase indicates a consistent rise in Nigeria’s debt levels, primarily due to increased domestic borrowing. Notably, this amount does not take into account the recently sanctioned N8.3 trillion loan from the United Arab Emirates and UK Export Finance, suggesting that total debt could rise even more.
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With a population estimated at 220 million, this data implies that every Nigerian shares a considerable portion of the national debt. The debt increased from N153.29 trillion in September 2025 to N159.28 trillion in December 2025, marking a quarterly rise of N5.98 trillion (3.9%). Year-over-year, it surged by N14.61 trillion (10.1%) compared to the N144.67 trillion recorded in December 2024. In terms of dollars, this growth went from $103.94 billion to $110.97 billion.
Domestic debt constitutes the largest portion, making up 53.27% of the total at N84.85 trillion. The Federal Government accounts for N80.49 trillion, while states and the FCT hold N4.36 trillion, underscoring the dependence on local borrowing.
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Meanwhile, external debt is at N74.43 trillion (46.73%), marking an increase from prior periods. This translates to $51.86 billion in dollar terms, with the Federal Government responsible for N66.27 trillion and states and the FCT for N8.16 trillion.
The escalating debt situation has raised concerns regarding fiscal sustainability, especially due to increasing debt servicing costs. The Central Bank of Nigeria (CBN) estimates that the country’s debt-to-GDP ratio could reach approximately 34% by 2026, indicating a trend of ongoing borrowing relative to econ omic output.
