Nigeria’s total domestic debt service reached ₦1.707 trillion in the second quarter of 2025 (April–June).
The Debt Management Office (DMO) revealed the latest figures on its official website on Friday.
The data showed that the country spent ₦1.686 trillion on interest payments across multiple debt instruments and ₦20.14 billion on principal repayments, bringing the total to ₦1,707,087,151,475.90 for the three months.
Nigeria’s domestic debt service peaked in April 2025 at ₦805.31 billion, before dropping to ₦423.10 billion in May and slightly rising to ₦478.67 billion in June.
A breakdown of the figures indicates that Federal Government of Nigeria (FGN) Bonds and Nigerian Treasury Bills (NTBs) accounted for the bulk of the debt service payments, reflecting the government’s continued reliance on domestic borrowing to finance budgetary deficits.
The DMO reported that Nigeria’s total domestic debt stock has risen to N76.59 trillion as of mid-2025.
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Breakdown:
- Nigerian Treasury Bills (NTBs):
The government spent N537.9 billion servicing NTBs during the quarter — N254.12 billion in April, N169.39 billion in May, and N114.39 billion in June. - Federal Government Bonds (FGN Bonds):
Payments on FGN Bonds were the largest component of domestic debt servicing, totaling N1.074 trillion over the quarter. This comprised N502.66 billion in April, N252.54 billion in May, and N318.84 billion in June. - FGN Savings Bond (FGNSB):
Debt service on the retail-oriented savings bonds amounted to N3.19 billion, with consistent monthly payments ranging from N930 million to N1.17 billion. - FGN Sukuk:
Payments on the Islamic-compliant Sukuk bonds totaled N70.72 billion, driven by a significant N43.26 billion payment in June and N27.45 billion in April. - Green Bonds:
Nigeria also paid N1.08 billion in June for its environmental sustainability-linked Green Bonds. - Promissory Notes:
The DMO data shows that N20.14 billion was paid as principal repayment on Naira-denominated Promissory Notes during the period. No payments were recorded on foreign currency promissory notes.
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