Nigeria’s total public debt climbed to N159.28 trillion in the fourth quarter of 2025, reflecting a steady increase in borrowing across federal and state levels, according to new data released by the National Bureau of Statistics (NBS).
The report, published in Abuja, indicates that the country’s debt stock rose from N153.29 trillion recorded in the third quarter of the same year, representing a 3.90 percent increase over the period.
A breakdown of the figures shows that external debt stood at N74.43 trillion, while domestic debt rose to N84.85 trillion. In percentage terms, external borrowing accounted for 46.73 percent of the total debt, while domestic debt made up 53.37 percent.
At the subnational level, Lagos State recorded the highest domestic debt at N1.22 trillion, maintaining its position as the state with the largest borrowing profile. Rivers State followed with N378.81 billion.
On the other end of the spectrum, Jigawa State reported the lowest domestic debt at N1.60 billion, with Ondo State also among the states with relatively low borrowing at N8.42 billion.
In terms of external debt, Lagos again topped the list with $1.17 billion, followed by Kaduna State at $684.29 million. The Federal Capital Territory recorded the lowest external debt at $26.80 million, while Zamfara State followed with $41.93 million.
GoNews report that the data highlights a continued rise in debt levels across Nigeria, with major economic centres such as Lagos and Rivers leading in both domestic and external borrowing, reflecting their scale of economic activity and infrastructure demands.
