Log in

Have no account yet? Sign up

Create an account

I read and accept the terms of use.

Already have an account? Log in

Reset password

Remember your password? Log in

Terms of use

Terms of use dolor sit amet consectetur, adipisicing elit. Recusandae provident ullam aperiam quo ad non corrupti sit vel quam repellat ipsa quod sed, repellendus adipisci, ducimus ea modi odio assumenda.

Disclaimers

Lorem ipsum dolor sit amet consectetur adipisicing elit. Sequi, cum esse possimus officiis amet ea voluptatibus libero! Dolorum assumenda esse, deserunt ipsum ad iusto! Praesentium error nobis tenetur at, quis nostrum facere excepturi architecto totam.

Lorem ipsum dolor sit amet consectetur adipisicing elit. Inventore, soluta alias eaque modi ipsum sint iusto fugiat vero velit rerum.

Limitation on Liability

Sequi, cum esse possimus officiis amet ea voluptatibus libero! Dolorum assumenda esse, deserunt ipsum ad iusto! Praesentium error nobis tenetur at, quis nostrum facere excepturi architecto totam.

Lorem ipsum dolor sit amet consectetur adipisicing elit. Inventore, soluta alias eaque modi ipsum sint iusto fugiat vero velit rerum.

Copyright Policy

Dolor sit amet consectetur adipisicing elit. Sequi, cum esse possimus officiis amet ea voluptatibus libero! Dolorum assumenda esse, deserunt ipsum ad iusto! Praesentium error nobis tenetur at, quis nostrum facere excepturi architecto totam.

Lorem ipsum dolor sit amet consectetur adipisicing elit. Inventore, soluta alias eaque modi ipsum sint iusto fugiat vero velit rerum.

General

Sit amet consectetur adipisicing elit. Sequi, cum esse possimus officiis amet ea voluptatibus libero! Dolorum assumenda esse, deserunt ipsum ad iusto! Praesentium error nobis tenetur at, quis nostrum facere excepturi architecto totam.

Lorem ipsum dolor sit amet consectetur adipisicing elit. Inventore, soluta alias eaque modi ipsum sint iusto fugiat vero velit rerum.

Do you agree to our terms? Sign up

Subscribe to the Newsletter

Join 10k+ people to get notified about new posts, news and tips.

Do not worry we don't spam!

Nigeria’s debt rises by N47tn, to hit N144.67tn

Published on April 06, 2025 at 06:02 AM

Nigeria's public debt increased by 48.58 percent to N144.67 trillion as of December 2024 from N97.34 trillion recorded at the end of 2023.

Nigeria's Debt Management Office disclosed this in its latest report on the country’s public debt profile.

Further analysis showed that Nigeria's public debt surged by N47.32 trillion on a year-on-year basis.

The report also revealed a quarter-on-quarter rise of 1.65 percent from the N142.32 trillion recorded at the end of September 2024, which indicates that the country’s debt profile has been on a steady rise.

The rise in the debt profile of Africa's most populous nation is mainly driven by external and domestic borrowing.

External debt rose by 83.89 percent to N70.29 trillion in December from 38.22 trillion in the same period in 2023.

Similarly, domestic debt rose by 25.77 percent to N74.38 trillion in December 2024 from 59.12 trillion at the end of December in 2023.

Accordingly, further breakdown of external debt shows that the federal government accounted for N62.92 trillion ($40.98 billion), while states and the FCT held N7.37 trillion ($4.80 billion).

In the domestic debt segment, the federal government held N70.41 trillion ($45.86 billion), with states and the FCT accounting for N3.97 trillion ($2.58 billion).

The increase in Nigeria's debt profile has raised concerns among financial experts.

The Chief Executive Officer of the Centre for Promotion of Private Enterprises, Dr. Muda Yusuf, criticised the rising debt rise in Nigeria despite the huge infrastructural deficit.