Lagos State has emerged number one in domestic debt in the second quarter (Q2) of 2025 as it posted N1.04trillion of Nigeria’s public debt profile of N152.39 trillion.
This national debt however consists of external and domestic.
The National Bureau of Statistics (NBS), said external debt rose to ($99.65billion) in Q2 2025 from N149.38trillion ($97.23billion) in Q1 2025.
The NBS report said the debt indicated a growth rate of 2.01 per cent on a quarter-on-quarter basis.
It said the total external debt stood at N71.84 trillion $46.98billion) in Q2 2025, while total domestic debt was N80.55 trillion ($52.67billion).
“The share of external debt (in naira value) to total public debt was 47.14per cent in Q2 2025, while the share of domestic debt (in naira value) to total public debt was 52.86per cent.
Rivers followed Lagos with N364.39billion, while Jigawa recorded the lowest with N852.49million, followed by Ondo with N10.64billion. followed by Yobe with $23.08 million.
The report said the Federal Government has a total of N141.07trillion debt with N64.48trillion from external borrowers and N76.58trillion from domestic borrowers.
States on the other hand have a total of N11.32trillion debt with N7.35trillion collected from foreign borrowers and N3.96trillionn from domestic borrowers.
