World Bank remains Nigeria’s top creditor as debt hits N152.4tn — DMO
Nigeria’s total public debt stock has risen to “N152.40 trillion as of June 30, 2025, according to the latest figures released by the Debt Management Office” on Saturday.
The figure represents a N3.01tn increase from N149.39tn recorded at the end of March 2025, marking a 2.01 per cent rise within three months. In dollar terms, the debt profile grew from $97.24bn to $99.66bn, reflecting a 2.49 per cent increase.
The new data underscore the government’s growing reliance on both domestic and external borrowing to plug fiscal deficits, even as revenue reforms and foreign exchange liberalization continue to reshape the macroeconomic landscape.
A breakdown of the figures shows that “Nigeria’s external debt climbed to $46.98bn (N71.85tn) in June, up from $45.98bn (N70.63tn) in March.
“The World Bank remained Nigeria’s single largest external creditor, with $18.04bn outstanding, mostly through the International Development Association. This represents about 38 per cent of total external obligations.
“Overall, multilateral lenders accounted for $23.19bn or 49.4 per cent of the external portfolio. Other multilateral partners include the African Development Bank, the International Monetary Fund, and the Islamic Development Bank.
“Bilateral loans contributed $6.20bn, led by the Export-Import Bank of China with $4.91bn, while smaller exposures were owed to France, Japan, India, and Germany.
“Commercial borrowings, mostly Eurobonds, stood at $17.32bn, accounting for 36.9 per cent of the external debt. Nigeria also owed $268.9 million under syndicated facilities and commercial bank loans.”
The country’s heavy exposure to Eurobonds could heighten its vulnerability to global market shocks, while dependence on concessional multilateral loans points to persistent fiscal fragility and limited access to cheaper credit.
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