Nigeria’s total public debt has climbed to N159.27 trillion, rising by N14.6 trillion in just one year as the federal and state governments continue to borrow to fund their operations and projects.

The latest figure released by the Debt Management Office (DMO) shows that the country’s debt rose from N144.67 trillion at the end of December 2024 to N159.27 trillion by December 31, 2025.

The increase means that Nigeria added about N14.6 trillion to its debt burden in 12 months, representing a 10.1 per cent rise.

The rising debt comes as the government faces the challenge of funding infrastructure, security, social programmes and other public services while struggling to raise enough revenue

The World Bank’s Nigeria country director, Mathew Verghis, summed up the problem by saying: “Nigeria doesn’t have a high indebtedness problem, it has a low revenue problem.”

The key issue, however, is what the borrowed funds are used for and whether they produce enough economic benefits to justify the debt.

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