Nigeria’s domestic debt has risen to N77.81 trillion as of September 2025, according to the latest data published on the website of the Debt Management Office (DMO).
The figure is indicative of the dominance of federal bonds in the country’s domestic debt profile and underscores the government’s strategy of blending long-term and short-term borrowing instruments.
The September 2025 figure marks a significant increase compared to N1.707 trillion recorded in the second quarter of 2025 (April–June), based on the DMO’s disclosure.
Federal bonds, treasury bills, and smaller allocations across Sukuk, savings bonds, green bonds, and promissory notes account for the bulk of the total.
The DMO data shows that FGN Bonds account for the largest share of Nigeria’s domestic debt stock, making up roughly 80 per cent of the total portfolio, with a figure of N61.9 trillion. Within this, FGN Naira Bonds account for N60.64 trillion, while US dollar-denominated bonds account for N1.35 trillion.
Nigerian Treasury Bills amount to N12.68 trillion, representing 16.3 per cent of total domestic debt; Sukuk bonds are valued at N1.29 trillion; FGN Savings Bonds amount to N97.46 billion, representing 0.13 per cent of the portfolio, while FGN Green Bonds stand at N62.36 billion, accounting for 0.08 per cent; and Promissory Notes total N1.69 trillion, or 2.17 percent of outstanding instruments, with N431.22 billion naira-denominated and N1.25 trillion foreign currency-denominated.
The data shows that conventional bonds and treasury bills remain the dominant instruments in Nigeria’s domestic debt structure, while specialised instruments such as green bonds and savings bonds still account for a relatively small share.
