Nigeria’s public debt rises to N166.7 trn

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By Emma Ujah, Abuja Bureau Chief

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Nigeria’s total public debt stock rose to N166.79 trillion as of June 30, 2026, the Debt Management Office (DMO) has revealed in its latest data, released at the weekend.

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That figure indicated an increase of N7.44 trillion from N159.35 trillion recorded at the end of the first quarter of the year.

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The breakdown showed that domestic debt accounted for N91.59 trillion, or 54.91 per cent of the total portfolio, while external debt made up the balance.

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In dollar terms, the country’s total public debt stood at $120.93 billion, comprising $54.52 billion in external debt and $66.41 billion in domestic debt.

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The external debt component was converted using the Central Bank of Nigeria’s official exchange rate of N1,379.1842 as of June 30, 2026.

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The Federal Government of Nigeria (FGN) accounted for the bulk of both domestic and external debt.

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According to the DMO, the federal government accounted for N152.77 trillion of the total debt stock, comprising N86.99 trillion in domestic debt and N65.77 trillion in external debt.

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State governments and the Federal Capital Territory (FCT) accounted for the remaining N14.01 trillion, made up of N4.59 trillion in domestic debt and N9.42 trillion in external debt.

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The federal government’s bonds remained the largest category, as it stood at N64.84 trillion, representing 74.53 per cent of FGN domestic debt.

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Nigerian Treasury Bills came next, accounting for N19.48 trillion, or 22.39 per cent, of FGN domestic debt.

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FGN Sukuk stood at N1.19 trillion, promissory notes at N1.22 trillion (comprising N206.82 billion in naira-denominated notes and N1.01 trillion in foreign-currency-denominated notes), FGN savings bonds at N122.45 billion, the green bond at N47.36 billion, and the green bond at N47.36 billion.

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