Debt Management Office Confirms Nigeria’s Public Debt Now Stands at ₦149.39 Trillion.

Debt Management Office Confirms Nigeria’s Public Debt Now Stands at ₦149.39 Trillion.

The Nigerian World.

The news as it trends

The Debt Management Office (DMO) has confirmed that Nigeria’s total public debt has surged to ₦149.39 trillion as of March 2025.

This marks a sharp increase from ₦121.67 trillion recorded in March 2024—an alarming 22.8% rise in just one year.

This figure includes both domestic and external borrowings.

Domestic debt now stands at ₦78.76 trillion, which refers to money borrowed from Nigerian banks and investors through government bonds and treasury bills.

External debt, on the other hand, is ₦70.63 trillion. These are loans taken from international institutions such as the World Bank, African Development Bank, and foreign creditors.

While the government has not provided a detailed breakdown of how these funds were used, many Nigerians on social media have expressed frustration, citing poor infrastructure, unreliable power supply, and underfunded public services.

Analysts warn that the weakening naira has made repaying foreign loans more expensive, further straining the national budget.

According to economists, this rising debt means a larger portion of Nigeria’s annual budget will be spent on debt servicing—paying interest and principal—rather than on essential services like education, healthcare, and infrastructure.

The growing debt burden is a sign of deepening financial pressure that could impact economic growth and the quality of life for ordinary Nigerians.

Yetunde B reports for Yeyetunde’s Blog.