Nigeria’s total public debt has risen to N149.39tn, as of March 31, 2025.
The figure reflects a year-on-year increase of N27.72tn or 22.8 per cent compared to the N121.67tn recorded in the corresponding period of 2024.
According to the Debt Management Office, in a report released on Friday, the figure also reflects a quarter-on-quarter increase of N4.72tn or 3.3 per cent from N144.67tn as at December 31, 2024.
The persistent rise in debt stock is attributed to new borrowings by the Federal Government and the depreciation of the naira, which inflated the local currency value of external loans.
This surge comes against a backdrop of persistent fiscal pressures and continued reliance on both domestic and foreign borrowing to fund public expenditure.
According to the report, external debt stands at N70.63tn ($45.98bn) at the end of the first quarter of 2025, compared to N56.02tn ($42.12bn) in the same period of 2024.
This translates to a year-on-year increase of N14.61tn or 26.1 per cent. In quarter-on-quarter terms, it rose slightly from N70.29tn in December 2024, a marginal increase of N344bn or 0.5 per cent.
