Tag
DOMESTIC DEBT
News and analysis about domestic debt
Four Nigerian states recorded more than 20% reductions in their domestic debt stocks in the first half of 2026, led by Enugu, which cut its debt by more than half during the period.
Nigeria’s domestic debt-service payments fell by about N1 trillion to N2.14 trillion in the second quarter of 2026, from N3.14 trillion in the first quarter.
Nigeria’s total public debt stock rose to N166.79 trillion as of June 30, 2026, with domestic debt accounting for N91.59 trillion, or 54.91% of the total portfolio.
Financial experts are raising concerns that Nigeria could be entering a full-blown debt trap, where the government is forced to take on new loans just to service existing obligations.
According to the latest subnational debt report by the Debt Management Office (DMO), the domestic debt of the 36 states and the FCT stood at N4.21 trillion as of September 30, 2024, reflecting a marginal decrease from N4.27 trillion recorded on June 30, 2024.
The domestic debt of Nigeria’s 36 states and the Federal Capital Territory (FCT) increased by N198.96 billion within three months.
This article gives a detailed analysis of the top 10 Nigerian states with the highest domestic debt as of Q2 2024:
Nigeria's public debt stock surged to N134.3 trillion ($91.3 billion) by the end of the second quarter of 2024.
The Debt Management Office (DMO) of Nigeria recently announced that the nation’s total public debt increased significantly to N121.67 trillion (approximately $91.46 billion) as of March 31, 2024.
Data released by DMO reveals the total domestic debt stock of the 36 states and the Federal Capital Territory (FCT) reached N5.862 trillion by December 31, 2023
At least 11 out of the 18 newly elected governors successfully reduced their inherited domestic debts by a significant N111.35 billion in the short span from June to September 2023.
The Federal Government has hinted at plans to restructure Nigeria’s debt with the extension of the repayment period...