NIGERIA’S DEBT BURDEN: GOVERNMENT SPENDS ₦3.14 TRILLION SERVICING DOMESTIC DEBT IN THREE MONTHS
According to the latest DMO data, domestic debt servicing cost the Federal Government ₦3.14 trillion between January and March 2026. The amount included approximately ₦2.97 trillion in interest payments and about ₦169.68 billion in principal repayments . Interest therefore accounted for the overwhelming majority of the domestic debt-service bill during the quarter. The size of the payment has renewed attention on the cost of borrowing and the pressure that debt servicing places on government finances. NIGERIA’S PUBLIC DEBT REMAINS A MAJOR CONCERN Nigeria’s total public debt stood at roughly ₦159.3 trillion at the end of 2025 , according to figures associated with the DMO’s latest published debt stock. Domestic debt accounted for a substantial portion of the total, with external obligations making up the remainder. The figure does not mean that Nigeria borrowed ₦159.3 trillion during 2026. Rather, it represents the accumulated public debt stock at that point in time. ...