As of September 30, 2025, Nigeria's total public debt has increased to N153.29 trillion, marking a steady growth in obligations over a three-month period according to data released by the Debt Management Office (DMO). The debt rose from N152.40 trillion as of June 30, 2025, indicating an increase of approximately N893.87 billion in the quarter. In dollar terms, the national debt also saw a notable rise from $99.66 billion to $103.94 billion, which translates to a $4.28 billion increase during the same timeframe.

The Debt Management Office reported that the external debt accounted for a significant portion of the total public debt, with figures showing it standing at $48.46 billion (N71.48 trillion), representing around 46.63 percent of overall obligations. This reflects a slight decrease in the percentage of external debt relative to the total debt as it rose from $46.98 billion (47.14 percent) in June. The increase in external obligations of $1.48 billion over the quarter emphasizes Nigeria's growing reliance on foreign borrowing amidst its economic challenges.

Domestic debt exhibited a sharper rise compared to external debt, highlighting potential concerns about the sustainability of Nigeria's fiscal policies. The continued uptick in public debt may impact the country's financial standing and necessitate strategic economic measures from the government to manage and mitigate increased obligations effectively. The implications of this debt growth could strain resources and affect funding for crucial development projects, thus requiring careful assessment by policymakers in the face of evolving economic circumstances.