The total public debt of Nigeria reached ₦159.28 trillion by 31 December 2025, amounting to an average of ₦724,000 per citizen, according to a Daily Trust analysis.
Debt Management Office (DMO) reports indicate a continuous increase in the national debt, primarily due to rising domestic borrowing. Excluding a newly approved borrowing of ₦8.3 trillion from the UAE and UK, the debt stock increased from ₦153.29 trillion ($103.94 billion) in September 2025 to ₦159.28 trillion ($110.97 billion) in December 2025.
That represents a quarter-on-quarter increase of ₦5.98 trillion (3.9 per cent). The public debt increased by ₦14.61 trillion (10.1 per cent), up from the ₦144.67 trillion recorded in December 2024. 
ALSO READ: Did Herbert Wigwe Really Own 106 Properties in London?
How Are Nigerian Owing ₦724,000?
Dr Paul Alaje, a financial expert who spoke to Daily Trust, emphasised that this debt is accrued by current and future Nigerians, creating a burden for unborn generations. He noted that higher debt levels lead to increased servicing costs funded by taxes and public revenues.
The DMO’s report suggests that the escalation in borrowing will likely surpass $160 billion in early 2026, complicating the country’s economic situation amidst rising inflation.
Dr Alaje addressed concerns about who bears the burden of debt repayment, indicating that it will primarily fall on citizens through taxation. Despite reported improvements in revenue generation, continuous borrowing occurs because immediate government expenditures, such as salaries, do not align with the pace of revenue collection. He cautioned that the significant gap between revenue generation and expenditure needs poses a pressing issue for the economy.
This is based on the last census, which estimated the population of Nigeria at 210 million.
SEE ALSO: Did Hackers Steal 25 million Documents from Nigeria’s CAC?
About The Author
Keep Up to Date with the Most Important News
