Nigeria’s public debt stock, which includes external and domestic debt, stood at N152.39 trillion ($99.65 billion) in Q2 2025 from N149.38 trillion ($97.23billion) in Q1 2025, indicating a growth rate of 2.01 percent on a quarter-on-quarter basis.

According to the National Bureau of Statistics (NBS) report, the total external debt stood at N71.84 trillion (US$46.98 billion) in Q2 2025, while total domestic debt was N80.55trillion (US$52.67 billion).

The share of external debt (in naira value) to total public debt was 47.14 percent in Q2 2025, while the share of domestic debt (in naira value) to total public debt was 52.86 percent.

Lagos state recorded the highest domestic debt in Q2 2025 with N1.04 trillion, followed by Rivers with N364.39 billion, while Jigawa state recorded the lowest with N852.49 million, followed by Ondo with N10.64 billion.

Read also: State Debt Mounts: Lagos, Edo Exceed ₦100,000 Per Capita

In addition, Lagos state recorded the highest external debt over the reference period with $1.04 billion, followed by Kaduna with $658.70 million, while FCT had the lowest with $19.26 million, followed by Yobe with $23.08 million.