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

Published

11 months ago

October 11, 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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BREAKING: Haaland Scores Controversial Goal as 10-Men Manchester City Defeat Manchester United at Old Trafford

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5 hours ago

September 13, 2026

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BREAKING: Haaland Scores Controversial Goal as 10-Men Manchester City Defeat Manchester United at Old Trafford—-Erling Haaland struck after a lengthy VAR review to hand 10-man Manchester City a dramatic 1-0 victory over Manchester United in a fiery Manchester derby.

Manchester City secured a dramatic 1-0 victory over Manchester United at Old Trafford on Sunday, with Erling Haaland’s controversial second-half goal settling a fiercely contested Manchester derby.

City were forced to play with 10 men for more than an hour after Phil Foden was sent off in the first half for kicking out at Manchester United captain Bruno Fernandes. Despite their numerical disadvantage, Enzo Maresca’s side remained disciplined and eventually found the breakthrough through Haaland.

The decisive moment arrived around the hour mark when Haaland found the net, only for the assistant referee to immediately raise the flag for offside.

However, after a lengthy VAR review, the decision was overturned and the goal was awarded. Replays showed that Patrick Dorgu’s outstretched foot had played Haaland onside, while Enzo Fernández’s position was deemed not to constitute interference with play.

The decision sparked furious reactions from the home supporters, with Manchester United players also questioning whether Fernández’s position had interfered with their ability to defend the move.

United were handed a major advantage by Foden’s dismissal but failed to capitalise on it. Marcus Rashford and Kobbie Mainoo both struck the woodwork as the hosts desperately searched for an equaliser.

Manchester City’s defence held firm during the closing stages, while goalkeeper Gianluigi Donnarumma produced a crucial late save to deny Bryan Mbeumo and preserve the visitors’ clean sheet.

The victory was particularly impressive given City’s lengthy spell with 10 men and handed Maresca a huge win in his first Manchester derby as City manager.

For Haaland, the goal continued his remarkable record against Manchester United and proved enough to give City all three points in one of the most controversial derbies in recent years.

The result keeps Manchester City’s perfect Premier League start intact, with the champions moving onto 12 points from four matches, level with Arsenal at the top of the table but behind the Gunners on goal difference. Manchester United, meanwhile, remain on just four points after four matches.

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BREAKING: Bruno Fernandes on Target as Manchester United Thrash Azerbaijan Outfit in Champions League Opener

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3 days ago

September 11, 2026

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BREAKING: Bruno Fernandes on Target as Manchester United Thrash Azerbaijan Outfit in Champions League Opener—-Manchester United made a commanding return to Europe’s elite competition as goals from Matheus Cunha, Bruno Fernandes, Benjamin Šeško and Lisandro Martínez secured a 4-0 victory over Sabah Masazir at Old Trafford.

Manchester United marked their return to the UEFA Champions League in emphatic fashion, cruising to a 4-0 victory over Azerbaijani champions Sabah Masazir at Old Trafford on Thursday night.

Michael Carrick’s side took control of the contest after a cautious opening spell before eventually breaking through in the 27th minute. Matheus Cunha opened the scoring after Patrick Dorgu’s delivery created the opportunity for the Brazilian to put United ahead.

The hosts quickly took advantage of their growing dominance, with captain Bruno Fernandes doubling the advantage in the 42nd minute.

United then struck again before the interval as Benjamin Šeško found the back of the net to give the Red Devils a commanding 3-0 lead at halftime.

Sabah, appearing in the Champions League main phase for the first time in their history, struggled to cope with United’s attacking pressure and the quality of the Premier League side.

The Azerbaijani champions had a chance to pull one back during the contest, but United’s defence remained firm, with goalkeeper Senne Lammens also called upon to protect the clean sheet.

United eventually added a fourth in the 68th minute when Lisandro Martínez capitalised on confusion inside the Sabah defence to complete the rout.

The victory gives Manchester United an ideal start to their Champions League campaign after returning to Europe’s premier club competition for the first time since 2023. The result also provides a major confidence boost for Carrick’s squad ahead of Sunday’s highly anticipated Manchester derby against Manchester City.

For Sabah, the heavy defeat brought a difficult end to an otherwise historic night. The club, founded in 2017, earned their place in the Champions League after winning the Azerbaijani title and progressing through the qualifying rounds. Their appearance at Old Trafford represented their first-ever match in the main phase of the competition.

United will now look to build on the impressive European victory as they continue their Champions League campaign, while Sabah will aim to regroup for their upcoming fixtures against some of Europe’s biggest clubs.

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