Nigeria whole public debt hit N152.39 trillion as of June 2025, the best ever on file in Naira phrases.
That is in line with newest information from the Debt Administration Workplace who additionally state that public debt in greenback phrases additionally rose to $99.68 billion simply $400 million shy of hitting $100 billion.
This constant upward trajectory in Nigeria’s debt inventory displays each contemporary borrowings and the impression of a appreciating change charge particularly on exterior debt obligations.
The federal and state governments owe a mix of home and overseas money owed.
Nigeria owes nations like China, France, Germany, and Japan (bilateral money owed) and multilateral establishments just like the World Bank, Islamic Improvement Bank (IsDB), and the African Improvement Bank (AfDB).
By way of native money owed, Nigeria owes native bond collectors through sale of FGN Bonds, Treasury Payments, Sukuk Bonds, Inexperienced Bonds and Promissory Notes.
This can be a breakdown of Nigeria’s debt collectors together with home and exterior lenders.
7. Syndicated Loans (N321.09 billion | $210 million)
- Kind: Bilateral / Industrial
- Definition:
Brief-term and medium-term services organized by a bunch of banks, typically led by establishments such because the Africa Finance Company (AFC).
Utilization:
Used to offer bridge financing, refinance maturing obligations, or plug short-term fiscal gaps.
Share of whole debt: 0.21%
6. Different Nations & Promissory Notes (N1.12 trillion | $735 million)
- Kind: Promissory Notes / Bilateral
- Definition:
Negotiated devices issued to settle verified obligations owed to native contractors, exporters, or overseas companions.
Utilization:
Clearing arrears, state refunds, and excellent funds to venture companions.
Share of whole debt: 0.7%
5. African Improvement Bank Group (N5.82 trillion | $3.80 billion)
- Kind: Multilateral
- Definition:
Loans from AfDB and its concessional arms — the African Improvement Fund (ADF) and Africa Rising Collectively Fund.
Utilization:
Helps infrastructure, industrialization, and regional commerce tasks.
Share of whole debt: 3.8%
4. China (N8.46 trillion | $5.53 billion)
- Kind: Bilateral
- Definition:
Loans from the Exim Bank of China and the China Improvement Bank, typically underneath the Belt and Highway Initiative.
Utilization:
Funds main infrastructure — railways, airports, energy vegetation, and ICT corridors.
Share of whole debt: 5.5%
3. World Bank Group (N29.65 trillion | $19.39 billion)
- Kind: Multilateral
- Definition:
Contains credit from the Worldwide Improvement Affiliation (IDA) and the Worldwide Bank for Reconstruction and Improvement (IBRD).
Utilization:
Targets improvement programmes in agriculture, schooling, fiscal reforms, energy, and social funding.
Share of whole debt: 19.4%
2. Eurobonds (N26.48 trillion | $17.32 billion)
- Kind: Industrial
- Definition:
Greenback-denominated sovereign bonds issued by Nigeria in worldwide capital markets.
Utilization:
Used to finance annual funds deficits, bolster overseas reserves, and refinance current exterior money owed.
Share of whole debt: 17.4%
1. FGN Securities (N80.55 trillion | $52.68 billion)
- Kind: Home
- Definition:
Nigeria’s core native debt devices together with FGN Bonds, Treasury Payments, Financial savings Bonds, Sukuk, Inexperienced Bonds, and Promissory Notes.
Utilization:
Funds the federal funds, capital tasks, and liquidity administration. These securities are held largely by native banks, pension funds, and institutional traders.
Share of whole debt: 52.8%
What it is best to know
President Bola Ahmed Tinubu has requested the Home of Representatives to approve plans to boost $2.3 billion in exterior capital for the 2025 fiscal 12 months.
That is made up of $1.2 billion in new borrowing and $1.1 billion to refinance a maturing Eurobond.
- The president mentioned the transfer goals to handle debt sustainably whereas supporting funding in infrastructure and growth-driven sectors.
- In the meantime, the World Bank tasks Nigeria’s public debt-to-GDP ratio will fall beneath 40% for the primary time in over a decade, citing regular development, tighter fiscal administration, and structural reforms.
- In its October 2025 Nigeria Improvement Replace, the Bank famous that the financial system grew 3.9% in H1 2025, up from 3.5% in 2024, and expects GDP to rise to 4.4% by 2027.
It additionally reported overseas reserves above $42 billion and a current-account surplus of 6.1% of GDP, reflecting stronger non-oil exports and decrease oil imports.
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