Tag: DMO

‘Nigeria’s public debt hits ₦159.28tr in Dec. 2025’ – DMO

Aminu Imam
'Nigeria’s public debt

Nigeria’s total public debt rose to ₦159.28 trillion as of December 31, 2025, according to the latest data released by the Debt Management Office (DMO) on Tuesday. The figure represents an increase from the ₦ 153.29 trillion recorded at the end of September 2025, underscoring the country’s growing reliance on borrowing to finance its fiscal obligations. Analysis of the data shows that the debt stock increased by ₦5.98tr on a quarter-on-quarter basis, representing a 3.9% rise between September and December 2025. The DMO, however, noted that the December 2025 figures…

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States’ domestic debt rises by ₦94.79bn in 3 months – DMO

Aminu Imam
DMO on debt

The total domestic debt of all 36 states of the federation and the Federal Capital Territory (FCT) rose from ₦3.87 trillion in the first quarter of 2025 to ₦3.96 trillion in the second quarter. According to data from the Debt Management Office (DMO), this shows a difference of ₦94.79 billion, or 2.45%. However, in comparison with the corresponding quarter in 2024, the states’ total domestic debt dropped by 7.1% from ₦4.27 trillion. Analysis of sub-national domestic debt profiles since the inception of this administration in 2023 shows more of a…

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Nigeria’s public debt rose to ₦152tr in Q2 2025 – DMO

Aminu Imam
DMO on debt

…Up by ₦3tr The Debt Management Office, (DMO), says Nigeria’s total public debt has reached ₦152.39 trillion as of June 30. Nigeria’s total public debt increased by ₦3 trillion or 2.01%, when compared to the ₦149.39 trillion reported in March. The public debt profile consists of the domestic and external debt stocks of the federal and subnational governments — the 36 states and the federal capital territory (FCT). The DMO said the total domestic debt was ₦80.55 trillion ($52.67 billion), while the total external debt was ₦71.84 trillion ($46.98 billion).…

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Nigeria’s debt costs surge 164% – DMO

Aminu Imam
DMO on debt

…as FG spends more on T-Bills, bonds Nigeria’s domestic debt service bill surged by 164 percent year-on-year in the first quarter of 2025, driven by sharp increases in interest payments on Treasury Bills and Federal Government bonds, according to data sourced from the Debt Management Office, (DMO). The DMO data revealed that the federal government spent ₦2.6 trillion on domestic debt service between January and March, marking a 65% increase from the previous quarter The rise, according to FBNQuest Merchant Bank, “reflects a recurring seasonal pattern, where debt obligations typically…

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‘Nigeria’s public debt rose to ₦149.39tr in Q1 2025’ – DMO

Aminu Imam
DMO on debt

Nigeria’s total public debt rose to ₦149.39tn as of March 31, 2025, marking a year-on-year increase of ₦27.72trilliin, or 22.8% compared to the ₦121.67tr recorded in the corresponding period of 2024. The figure, released by the Debt Management Office (DMO) on Friday, also reflects a quarter-on-quarter increase of ₦4.72tr or 3.3% from ₦144.67tr as at December 31, 2024. The persistent rise in debt stock is attributed to new borrowings by the Federal Government and the depreciation of the naira, which inflated the local currency value of external loans. This surge…

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‘Tinubu’s claim on N30tr debt misleading; merely restructured, not cleared’ – Report

Aminu Imam

President Bola Tinubu’s claim during his October 1 speech, that his administration has cleared the N30 trillion Ways and Means debt inherited from the previous government has been revealed as misleading. Recall that in his Independence Day speech, President Bola Tinubu claimed that his administration cleared the N30 trillion Ways and Means debt inherited from the previous government. stating that the debt was eliminated, and the debt-service ratio reduced from 97% to 68%, while maintaining foreign reserves at $37 billion. However, a report by the Joint Senate Committee on Banking,…

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Nigeria’s debt-to-GDP ratio crosses 50%; first time ever

Aminu Imam
Edun Tinubu

Nigeria’s debt-to-GDP (Gross Domestic Product) ratio crossed 50% for the first time ever last week, after the Debt Management Office, (DMO) published the country’s latest public debt figures. According to the DMO, Nigeria now has a public debt portfolio of N121 trillion, consisting of domestic debt of N65.6 trillion and a foreign debt portfolio of $42.1 billion (which is equivalent to N56 trillion when converted to Naira). As of December 2023, Nigeria’s total GDP was N229.9 trillion in nominal terms, though it grew by only 2.74% in real terms. This…

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?121.7tr debt: ?”Hold World Bank to account” – SERAP tells Inspection Panel

Aminu Imam
SERAP World Bank

Socio-Economic Rights and Accountability Project, (SERAP), has sent a complaint to the World Bank’s Inspection Panel, urging the Panel “to probe allegations of corruption in the spending of the loans and other funding facilities obtained by the Federal Government and Nigeria’s 36 State governors and to review the implementation of all Bank-funded projects by successive governments since 1999”. In an issued letter, dated June 22, 2024 and signed by SERAP Deputy Director, Kolawole Oluwadare, SERAP urged the Inspection Panel “to determine the extent to which Bank Management has followed or…

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Nigeria’s public debt rose by N24.33tr in three months – DMO

Aminu Imam
DMO

Nigeria’s total public debt has reached N121.67tn, increasing by N24.33tn or 24.99 per cent within three months, the Debt Management Office, (DMO), has announced. The DMO disclosed the new figure in a press release yesterday in Abuja. This new figure is from a total debt of N97.34trillion (108.23billion) as of December 2023. The Public Debt, comprise of Total Domestic and External Debts of the Federal Government of Nigeria, the thirty-six state governments, and the Federal Capital Territory, (FCT). The report read, “Nigeria’s total public debt stood at N121.67 trillion (USD91.46…

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DMO unveils N450bn Bond for May

Aminu Imam
DMO Bonds

The Debt Management Office (DMO) has declared bond issuance worth N450billion. The auction, slated for May 13, 2024, is part of the government’s approach to fund its financial needs while offering avenues for investors. The upcoming auction will showcase three series of bonds, each with distinct maturity periods and competitive returns. The first in line is the five-year reopening of the 19.30 percent FGN APR 2029 bond, which aims to amass N150bn. This series promises investors a fixed return rate of 19.30 percent, guaranteeing consistent earnings. Following suit is the…

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