Data from the Debt Management Office (DMO) released on Friday, June 27, 2025, indicates that foreign debt in Nigeria increased by 26.07% year-on-year in the first quarter of 2025.

L External debt stood at $45.97 billion, representing 47.28% of the total amount of public debt, in the first quarter of 2025. The report states that the country's external debt reached 70,632 billion naira ($45.97 billion) compared to $42.11 billion in the same period in 2024. It could be attributed to new borrowing by the Nigerian government and to the depreciation of the naira

As for domestic debt, it increased from 65,646 billion naira in the first quarter of 2024 to 78,756 billion naira in the first quarter of 2025.