Nigeria’s total public debt rose to ₦159.28 trillion in Q4 2025, according to the National Bureau of Statistics (NBS), with Lagos and Rivers states accounting for the largest share of borrowing.
The figure, published in the NBS Domestic and Foreign Debt Report released in Abuja on Monday, reflects a 3.9% increase from ₦153.29 trillion recorded in Q3 2025.
The data shows external debt at ₦74.43 trillion and domestic debt at ₦84.85 trillion, representing 46.73% and 53.37% of the total respectively.
At the state level, Lagos recorded the highest domestic debt at ₦1.22 trillion, followed by Rivers at ₦378.81 billion. Jigawa had the lowest at ₦1.60 billion, with Ondo at ₦8.42 billion.
For external debt, Lagos again led with $1.17 billion, while Kaduna ranked second with $684.29 million. The Federal Capital Territory posted the lowest external debt at $26.80 million, followed by Zamfara at $41.93 million.
Overall, the report underscores rising debt levels across both federal and state governments, with key economic centres like Lagos and Rivers driving much of the increase.