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- Nigeria's overseas and home indebtedness continues to summation each year, and the latest information from DMO shows that it has present reached N149 trillion
- Analysts person expressed concerns implicit the speedy surge successful debts and the implications for a federation with declining revenues
- The existent indebtedness illustration means that each Nigerian would request to wage implicit N600,000, and DMO has listed the biggest creditors
Ruth Okwumbu-Imafidon, a writer with Legit.ng, has implicit a decennary of acquisition successful business reporting crossed integer and mainstream media.
Nigeria’s nationalist indebtedness stood astatine $97.23 cardinal oregon N149.39 trillion arsenic of the extremity of March 2025.
This is according to the latest information from the Debt Management Office (DMO), which covers the nation’s indebtedness up to March 31, 2025.
The latest fig represents a 22.8% yearly maturation amounting to N27.72 trillion, up from the N121.67 trillion recorded arsenic of March 31, 2024.
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The federal government unsocial has a nationalist indebtedness of $48.745 cardinal (or N74.89 trillion), portion the authorities authorities and FCT person debts amounting to $2.52 cardinal (or N3.869 trillion).
Amid the surge successful debt, the Debt Management Office lists Nigeria’s biggest creditor.
Foreign debts emergence to $46 billion
Nigeria’s overseas debts arsenic of March 31, 2025, are $45.975 cardinal oregon N70.63 trillion utilizing the prevailing speech rate.
Recall that arsenic of September 30, 2024, Nigeria’s overseas indebtedness was N68.8 trillion ($43 billion), portion home indebtedness was N73.4 trillion ($45.8 billion).
Here are the countries and institutions Nigeria owes, according to the DMO data.
For Bilateral debts, Nigeria has astir $6.7 cardinal to pay, with China and France being the biggest creditors with $5.16 cardinal and $609 cardinal owed respectively.
Other countries owed see Germany, Japan, and India.
Nigeria's different creditors include:
- World Bank - $18.3 billion
- Islamic Development Bank (IsDB)
- African Development Bank (AfDB) - $3.5 billion
- AFC-arranged syndicated loans - $133.6 million
- Eurobonds - $17.32 cardinal
Nigeria’s home indebtedness rises to N78.7 trillion
The DMO information besides shows that full home indebtedness has reached N78.76 trillion arsenic of March 31, 2025. This includes:
- FGN Bonds (naira & usd) - N59.8 trillion
- Nigerian Treasury Bills - N12.7 trillion
- Promissory Notes - N1.301 trillion
- FGN Sukuk bonds - N992.6 cardinal
- FGN redeeming bonds - N82.6 cardinal
- FGN Green Bonds - N15 billion
Every Nigerian owes N653k
Compared to the past 4th ended December 31, 2024, Nigeria's full indebtedness is up by N4.72 trillion, marking a 3.3% maturation successful 3 months.
With the existent Nigerian colonisation estimated astatine 227.9 million, the indebtedness could travel up to N653,795.52k for each Nigerian to pay.
Source: Getty Images
Nigeria is presently rated among the highest indebted African countries by the World Bank.
Nigeria borrows N4.72 trillion successful 3 months
In related news, Legit.ng reported that Nigeria's full indebtedness has grown by N4.72 trillion wrong 1 quarter.
The outer debts stood astatine N70.63 trillion ($45.9 billion), with the weakening currency importantly inflating naira-denominated indebtedness contempt humble dollar increases.
The country’s per capita indebtedness has crossed N600,000, raising concerns astir the strain connected nationalist finances and the government’s quality to money developmental projects.
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Source: Legit.ng
