Nigeria’s State and Federal Domestic Debts Surge: Bendel Insurance Tops ₦3.8 Trillion as of March 2025

Nigeria’s State and Federal Domestic Debts Surge: Bendel Insurance Tops ₦3.8 Trillion as of March 2025

According to fresh data from the Debt Management Office (DMO), the combined domestic debt of Nigeria’s 36 states and the Federal Capital Territory (FCT) has climbed to ₦3.869 trillion as of March 31, 2025. 

The report also shows that the Federal Government’s domestic debt grew from ₦65.65 trillion in March 2024 to ₦78.76 trillion by March 2025, reflecting a steep rise of ₦13.11 trillion within one year.

Overall, Nigeria’s total public debt, which includes both federal and sub-national debts, now stands at ₦149.39 trillion, a jump of ₦27.72 trillion from ₦121.67 trillion in the same period last year.