Nigeria’s total public debt rose to N159.35 trillion in March 2026, representing an increase of N9.96 trillion from the N149.39 trillion recorded in March 2025.
The latest figures were released by the Debt Management Office (DMO).
In dollar terms, Nigeria’s total public debt increased by $17.71 billion, from $97.24 billion in March 2025 to $114.95 billion in March 2026.
This represents an 18.22 per cent increase year-on-year.
Between December 2025 and March 2026, the country’s total debt increased marginally by N75.51 billion, from N159.28 trillion to N159.35 trillion.
However, its dollar value rose by $3.98 billion, largely due to exchange-rate movements.
The DMO used an exchange rate of N1,386.2156 to the dollar for its March 2026 figures, compared with N1,435.2571 in December 2025.
Nigeria’s external debt stood at $51.90 billion in March 2026, slightly higher than the $51.86 billion recorded in December.
In naira terms, however, external debt fell by N2.48 trillion, from N74.43 trillion to N71.95 trillion.
Domestic debt recorded a different trend, rising by N2.55 trillion, from N84.85 trillion in December 2025 to N87.40 trillion in March 2026.
On a year-on-year basis, domestic debt increased by N8.64 trillion, or 10.98 per cent.
Domestic borrowing accounted for 54.85 per cent of Nigeria’s total public debt in March 2026, up from 52.72 per cent a year earlier.
The Federal Government remained the country’s largest domestic borrower.
Its domestic debt rose from N80.49 trillion in December 2025 to N82.88 trillion in March 2026.
Compared with N74.89 trillion recorded in March 2025, the Federal Government’s domestic debt increased by N7.99 trillion, or 10.67 per cent.
The Federal Government’s domestic debt alone represented 52.01 per cent of Nigeria’s total public debt as of March 2026.
