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Nigeria's Public Debt Hits N152.4 Trillion

Nigeria’s Public Debt Hits N152.4 Trillion In The Month Of June 2025

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Nigeria’s Public Debt Hits N152.4 Trillion In The Month Of June 2025—-Nigeria’s total public debt has climbed to N152.40 trillion as of June 30, 2025, up from N149.39 trillion at the end of March.

This is according to the latest figures from the Debt Management Office (DMO).

The figure represents a quarterly increase of N3.01 trillion, equivalent to 2.01%, while in dollar terms the debt stock rose from $97.24 billion to $99.66 billion, reflecting a 2.49% increase.

External debt portfolio sees modest rise

Nigeria’s external debt stood at $46.98 billion (N71.85 trillion) in June, up from $45.98 billion (N70.63 trillion) in March. The DMO report shows that multilateral lenders remain the largest creditors, with a combined exposure of $23.19 billion, accounting for 49.4% of external obligations. The World Bank, through the International Development Association, is the single largest creditor with $18.04 billion outstanding.

Bilateral loans made up $6.20 billion, led by the Export-Import Bank of China at $4.91 billion, followed by smaller exposures to France, Japan, India, and Germany. Commercial borrowings remained sizeable at $17.32 billion, almost entirely Eurobonds, which account for 36.9% of the external portfolio. A further $268.9 million was owed under syndicated facilities and commercial bank loans.

The reliance on Eurobonds and other commercial instruments exposes Nigeria to global market volatility, while the heavy concentration in multilateral loans indicates continued dependence on concessional financing.

Domestic debt dominated by long-term bonds
On the domestic side, total obligations reached N80.55 trillion by June, an increase of N1.79 trillion from N78.76 trillion in March. Federal Government bonds dominated the portfolio with N60.65 trillion, representing 79.2% of total domestic debt. This category included N36.52 trillion in naira-denominated bonds, N22.72 trillion in securitised Ways and Means advances, and N1.40 trillion in dollar bonds.

Treasury bills accounted for N12.76 trillion, or 16.7%, while Sukuk issues stood at N1.29 trillion. Smaller instruments included savings bonds worth N91.53 billion, green bonds of N62.36 billion, and promissory notes totalling N1.73 trillion. The promissory notes include both naira and foreign currency-denominated liabilities converted at the June CBN exchange rates.

The growing stock of securitised Ways and Means advances underlines the fiscal stress the government faces, even as it leans on bond markets to finance budget deficits.

Federal Government accounts for over 92%
Of the N152.40 trillion debt stock, the Federal Government was responsible for N141.08 trillion, which amounts to 92.6% of the total. This was made up of N64.49 trillion in external obligations and N76.59 trillion in domestic debt.

For the first time in 2025, the DMO provided a separate breakdown of external debt for states and the Federal Capital Territory. Their combined obligations were reported at $4.81 billion (N7.36 trillion), while their domestic debts stood at N3.96 trillion. In total, subnational governments owed N11.32 trillion, accounting for 7.4% of the national debt stock

What you should know
The DMO explained that external debt was converted to naira using the Central Bank’s official exchange rate of N1,529.21 to the dollar as of June 30, 2025. The weaker exchange rate compared with earlier in the year magnified the naira value of foreign borrowings, adding to the rise in the overall stock.

This effect highlights the vulnerability of Nigeria’s debt portfolio to currency depreciation. Even in periods where fresh borrowing is limited, the conversion of dollar and other foreign currency debts at weaker naira levels inflates the total.

Although Nigeria’s debt-to-GDP ratio remains within international thresholds, the pace of growth and the increasing cost of servicing loans continue to raise questions about sustainability.

Nigeria’s debt trajectory underscores the need for stronger revenue mobilisation and fiscal consolidation. Without significant progress in expanding the tax base and reducing expenditure inefficiencies, debt service could continue to crowd out investments in infrastructure and social spending.

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DR Congo Stun Portugal with Hard-Fought Draw in FIFA World Cup Opener

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DR Congo Stun Portugal with Hard-Fought Draw in FIFA World Cup Opener—–European giants Portugal were forced to settle for a point after a resilient DR Congo side produced a spirited display in their opening Group K clash at the 2026 FIFA World Cup.

Portugal entered the match as overwhelming favourites, boasting one of the most talented squads in the tournament and carrying expectations of a deep World Cup run. However, DR Congo delivered one of the standout performances of the opening round, battling their way to a hard-earned 1-1 draw and sending a message to the rest of Group K.

From the opening whistle, Portugal dominated possession and attempted to impose their trademark passing game. Midfielders controlled the tempo, circulating the ball patiently as they searched for openings in a well-organized Congolese defense.

Despite Portugal’s territorial dominance, DR Congo remained disciplined. The African side sat compactly, denying space between the lines and forcing Portugal into speculative efforts from distance. Whenever possession was regained, DR Congo transitioned quickly, using their pace and physicality to threaten on the counterattack.

Portugal eventually broke the deadlock after a sustained spell of pressure. The European giants carved open the Congolese defense with a swift attacking move, allowing their forwards to capitalize and put the Seleção ahead. The goal appeared to settle Portugal and many expected them to push on for a comfortable victory.

Instead, DR Congo responded magnificently.

Refusing to panic, the Leopards gradually grew into the game and began committing more bodies forward. Their persistence paid off when they found an equalizer, sparking wild celebrations among their supporters. The goal shifted momentum dramatically and exposed Portugal’s growing frustration.

The second half became increasingly tense as Portugal searched desperately for a winner. Chances came and went, with the Congolese goalkeeper producing several crucial interventions while defenders threw themselves into blocks to preserve the scoreline.

Cristiano Ronaldo remained at the center of Portugal’s attacking efforts, attempting to inspire his side through moments of individual brilliance. However, DR Congo’s defensive structure held firm, limiting clear-cut opportunities and frustrating the Portuguese captain throughout the contest.

As the clock ticked down, Portugal threw numbers forward in search of a decisive breakthrough. The pressure intensified in the closing stages, but DR Congo continued to defend heroically while still posing a threat on the counterattack.

When the final whistle sounded, the contrasting emotions were evident. Portuguese players looked disappointed after dropping points against a team they were expected to beat, while DR Congo celebrated a result that could prove crucial in their quest to reach the knockout rounds.

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Trump and Pezeshkian Finalize Historic Accord to End War and Restore Gulf Shipping

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Trump and Pezeshkian Finalize Historic Accord to End War and Restore Gulf Shipping—-Landmark U.S.-Iran agreement takes effect as both leaders formally endorse a 14-point framework aimed at ending months of conflict, restoring maritime trade, and launching broader diplomatic negotiations.

U.S. President Donald Trump and Iranian President Masoud Pezeshkian have electronically signed the “Islamabad Memorandum,” a historic peace agreement designed to end the conflict between the United States, Israel, and Iran while reopening the strategically vital Strait of Hormuz. Pakistani officials confirmed that the memorandum has entered into effect following the signatures of both leaders.

The agreement, brokered with significant mediation from Pakistan, establishes an immediate halt to military operations and lays out a framework for a broader settlement to be negotiated over the next 60 days. The memorandum also commits both sides to reopening the Strait of Hormuz, one of the world’s most important energy shipping routes, easing concerns over global oil supplies and maritime security.

According to details released by U.S. officials, the 14-point accord includes provisions addressing Iran’s nuclear activities, sanctions relief, maritime security, and economic reconstruction. Iran reportedly reaffirmed that it will not pursue nuclear weapons, while the United States agreed to begin a phased process tied to future negotiations and compliance measures.

The reopening of the Strait of Hormuz is among the most consequential elements of the agreement. The waterway carries a significant share of the world’s oil and gas exports, and its disruption during the conflict contributed to volatility in global energy markets. Officials say commercial shipping will gradually resume under new security arrangements outlined in the memorandum.

While diplomats have hailed the accord as a major breakthrough, officials on all sides acknowledge that substantial challenges remain. The memorandum serves as an interim framework rather than a final peace treaty, with negotiators expected to meet in Switzerland to work toward a comprehensive and binding settlement.

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