The latest report by the National Bureau of Statistics (NBS) shows that the nation’s
public debt stock, which includes external and domestic debt, rose to ₦152.39 trillion (US$99.65 billion) in Q2 2025 from ₦149.38 trillion (US$97.23billion) in Q1 2025, indicating a growth rate of 2.01% on a quarter-on-quarter basis.
According to the report, total external debt stood at ₦71.84 trillion (US$46.98 billion) in Q2 2025, while total domestic debt was ₦80.55trillion (US$52.67 billion).
The report also revealed that the share of external debt (in naira value) to total public debt was 47.14% in Q2 2025, while the share of domestic debt (in naira value) to total public debt was 52.86%.
The NBS report said that Lagos state recorded the highest domestic debt in Q2 2025 with ₦1.04 trillion, followed by Rivers with ₦364.39 billion, while Jigawa state recorded the lowest with ₦852.49 million, followed by Ondo with ₦10.64 billion.
In addition, it said that the Lagos state recorded the highest external debt over the reference period with $1.04 billion, followed by Kaduna with $658.70 million, while FCT had the lowest with $19.26 million, followed by Yobe with $23.08 million.
