Nigeria’s total public debt has surged to ₦152.39 trillion as of June 30, marking a ₦3 trillion (2.01%) increase compared to ₦149.39 trillion recorded in March, the Debt Management Office (DMO) revealed.
The debt profile includes both domestic and external borrowings by the federal government, the 36 states, and the Federal Capital Territory (FCT).
The DMO reported that domestic debt stands at ₦80.55 trillion (approximately $52.67 billion), while external debt totals ₦71.84 trillion ($46.98 billion).
The bulk of domestic borrowing remains with the federal government, which saw its debt rise from ₦74.88 trillion in Q1 to ₦76.58 trillion by the end of June. Meanwhile, domestic debt held by states and the FCT edged up slightly from ₦3.86 trillion to ₦3.96 trillion in the same period.
Earlier in January, the DMO assured the public that Nigeria had made adequate budgetary provisions to meet its debt obligations following the issuance of $2.2 billion Eurobonds.
The report comes amid ongoing efforts by both federal and state governments to manage debt levels, supported by increased revenue disbursements from the Federation Account Allocation Committee (FAAC), according to a May report by the National Orientation Agency (NOA).
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