Lagos tops as Nigeria’s debt hits N152.39trn

The National Bureau of Statistics (NBS) has stated that Nigeria‘s public debt stock, which includes external and domestic debt, stood at N152.39 trillion ($99.65bn) in Q2 2025 from N149.38trn (US$97.23bn) in Q1 2025.

A report said the debt indicated a growth rate of 2.01% on a quarter-on-quarter basis.

It said the total external debt stood at N71.84trn $46.98bn) in Q2 2025, while total domestic debt was N80.55trn ($52.67bn).

“The share of external debt (in naira value) to total public debt was 47.14% in Q2 2025, while the share of domestic debt (in naira value) to total public debt was 52.86%.

Lagos state recorded the highest domestic debt in Q2 2025 with N1.04trn, followed by Rivers with N364.39bn, while Jigawa state recorded the lowest with N852.49m, followed by Ondo with N10.64bn and Yobe with $23.08 million.

The report said the federal government has a total of N141.07trn debt with N64.48trn from external borrowers and N76.58trn from domestic borrowers.

States on the other hand have a total of N11.32trn debt with N7.35trn collected from foreign borrowers and N3.96trn from domestic borrowers.

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