Nigeria’s public debt climbed to N152.39 trillion (99.65 billion dollars) in the second quarter of 2025, representing a 2.01 per cent rise from the previous quarter, according to the National Bureau of Statistics. The NBS report shows that external debt stood at N71.84 trillion, while domestic debt amounted to N80.55 trillion, with domestic borrowing making up 52.86 per cent of the total.
Lagos State remained the most indebted subnational, holding N1.04 trillion in domestic debt and 1.04 billion dollars externally, far ahead of other states. Jigawa had the lowest domestic debt, and the FCT posted the lowest external debt. The figures underline ongoing fiscal pressures as governments grapple with rising expenditures and limited revenue.