Rider: DMO figures show domestic debt rose to ₦91.59tn while external debt increased to ₦75.20tn by June 2026.

Nigeria’s total public debt stock increased by ₦7.44 trillion between March and June 2026, reaching ₦166.79 trillion as of June 30, according to the latest figures released by the Debt Management Office (DMO).

The DMO published its latest public debt report on September 25, showing that Nigeria’s total debt rose from ₦159.35 trillion at the end of March to ₦166.79 trillion by the end of June. 

The increase represents about 4.67 per cent growth over the three-month period.

The rise was recorded across both domestic and external debt.

Domestic Debt Rises To ₦91.59tn

Domestic debt increased from ₦87.40 trillion in March to ₦91.59 trillion in June, representing an increase of approximately ₦4.19 trillion.

At ₦91.59 trillion, domestic obligations accounted for 54.91 per cent of Nigeria’s total public debt portfolio as of June 30.

External debt, meanwhile, stood at ₦75.20 trillion, representing 45.09 per cent of the total portfolio.

The DMO’s latest publication forms part of its quarterly reporting of Nigeria’s public debt position, covering obligations of the Federal Government, the 36 states and the Federal Capital Territory. 

Federal Government Holds Majority Of Debt

The Federal Government accounted for the largest share of the debt portfolio.

As of June, the FGN’s domestic debt was about ₦87 trillion, while its external debt stood at approximately ₦65.77 trillion.

For state governments and the FCT, domestic debt stood at ₦4.59 trillion, while their external debt was about ₦9.42 trillion.

The figures show that the Federal Government remains the dominant component of Nigeria’s overall public debt stock, while states and the FCT account for a smaller portion.

Dollar-Denominated Debt Also Increased

In dollar terms, Nigeria’s total public debt increased from approximately $114.95 billion in March to $120.93 billion in June.

That represents an increase of about $5.98 billion during the period.

However, the naira value of external debt should be interpreted alongside exchange-rate movements because the DMO converts foreign-currency obligations into naira using the official Central Bank of Nigeria exchange rate applicable on each reporting date.

Consequently, changes in the naira value of external debt can reflect both movements in the underlying foreign-currency debt and exchange-rate changes.

DMO Publishes Latest Debt Data

The June report is the latest quarterly public debt publication from the DMO. The agency’s records show that it also published Nigeria’s March 31, 2026 debt position on June 30, before releasing the June 30 figures on September 25. 

The DMO’s debt reporting covers external and domestic obligations of the Federal Government, state governments and the FCT.

The latest figures provide an updated picture of Nigeria’s debt position as of the end of the second quarter of 2026, with total obligations standing at ₦166.79 trillion.

The increase from March to June reflects a ₦7.44 trillion rise in the country’s reported public debt stock over the quarter.

The DMO’s latest publication also comes alongside separate reports on Federal Government domestic debt by instrument, external debt stock, state and FCT domestic debt, and actual debt-service payments for the second quarter. 

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