Nigeria’s Public Debt Hits N159.35tn in Q1 2026 — DMO

Nigeria’s total public debt rose to N159.35 trillion as of March 31, 2026, according to the latest report by the Debt Management Office.

The figure represents a 6.7 per cent increase, or N9.96 trillion, from the N149.39 trillion recorded in March 2025.

However, the debt stock remained largely stable compared with the N159.28 trillion recorded at the end of December 2025, rising by only N75.51 billion, or 0.05 per cent, quarter-on-quarter.

The latest debt portfolio comprises N87.4 trillion in domestic debt, representing 54.85 per cent of the total, and N71.95 trillion in external debt, accounting for the remaining 45.15 per cent.

Domestic debt increased by N8.64 trillion, or 11 per cent, from N78.76 trillion recorded in March 2025, while external debt rose by N1.32 trillion, or 1.9 per cent, from N70.63 trillion.

Domestic debt increased by N2.55 trillion, or three per cent, from N84.85 trillion, compared with December 2025, while external debt declined by N2.48 trillion, or 3.3 per cent, from N74.43 trillion.

The DMO said the Federal Government accounted for N82.88 trillion of the domestic debt, while the 36 states and the Federal Capital Territory accounted for N4.52 trillion.

In dollar terms, Nigeria’s total public debt stood at $114.95 billion as of March 31, 2026, up from $97.24 billion a year earlier.

The DMO said it used the Central Bank of Nigeria’s official exchange rate of N1,386.2156 to the dollar as of March 31, 2026, to convert the external debt to naira.

Recall that the National Assembly approved President Bola Tinubu’s request to borrow an additional $6 billion externally on March 31.