Economy
Nigeria’s public debt hit N152.39tr in June 2025 – DMO
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Nigeria’s total public debt stock has climbed to N152.39 trillion as of June 30, 2025, according to the latest figures released by the Debt Management Office (DMO).
The new figure marks an increase of N3.01 trillion or 2.01 per cent from the N149.39 trillion recorded at the end of March 2025. In dollar terms, the debt profile rose from $97.24 billion to $99.66 billion, representing a 2.49 per cent increase within the three-month period.
Nigeria’s external debt stock increased to $46.98 billion (N71.85 trillion) in June 2025, compared to $45.98 billion (N70.63 trillion) in March.
According to the report, the World Bank remains Nigeria’s largest external creditor, with $18.04 billion in outstanding loans — mostly from the International Development Association (IDA). This accounts for about 38 per cent of the country’s total external obligations.
Overall, multilateral lenders accounted for $23.19 billion, representing 49.4 per cent of the external portfolio. Other multilateral partners include the African Development Bank (AfDB), International Monetary Fund (IMF), and the Islamic Development Bank (IsDB).
Bilateral loans totalled $6.20 billion, led by the Export-Import Bank of China (Exim Bank) with $4.91 billion, while smaller exposures were owed to France, Japan, India, and Germany.
Commercial borrowings, mostly through Eurobonds, amounted to $17.32 billion, accounting for 36.9 per cent of Nigeria’s total external debt. The country also owed $268.9 million under syndicated facilities and commercial bank loans.
On the domestic front, total debt rose to N80.55 trillion in June, up from N78.76 trillion in March — an increase of N1.79 trillion or 2.27 per cent.
The report stated that N680,424,712,094.99 of FGN bonds issued to restructure States’ commercial debts is excluded from that amount. Also included under FGN Bonds was a securitized component of Ways and Means financing amounting to N22,719,000,000,000.00. A portion of FGN Bonds issued in foreign currency (converted to naira) accounted for N1,402,905,358,752.50; this figure corresponds to a domestic US Dollar bond of USD 917.405 million, which the DMO notes was converted using a rate of N1,529.2105 per dollar.
Treasury Bills were the second largest instrument, amounting to N12,764,078,815,000.00, which is 16.67 percent of the domestic debt stock.
Other instruments recorded in the DMO report include FGN Sukuk (N1,292,557,000,000.00, or 1.69 percent), FGN Savings Bonds (N91,533,172,000.00, or 0.12 percent), and FGN Green Bond (N62,355,000,000.00, or 0.08 percent).
Promissory Notes (Pnotes), which are non-interest bearing, were reported at N1,731,358,298,643.85, forming 2.26 percent of total domestic debt. Of this amount, the naira-denominated portion was N431,216,797,437.00, while the foreign currency denominated portion (converted to naira) was N1,300,141,501,206.86. The foreign currency portion is composed of USD and GBP elements, converted at the rates of N1,529.2105 per dollar and N2,093.9479 per pound.
Specifically, the DMO noted that the FGN Naira Bonds figures include part of the N7.3 trillion Ways and Means restructured in the first half (H1) of 2025, and that the FGN US Dollar Bond of USD 917,405,000 issued on September 6, 2024 and outstanding as at June 2025 was converted to naira using the Central Bank of Nigeria official exchange rate of 1 USD = N1,529.2105 as at June 30, 2025.
The DMO stated that Promissory Notes which are non-interest bearing instruments and that the foreign-denominated Promissory Notes outstanding (USD 850,069,492 and £98,526 as at June 2025) were converted to naira using the CBN official exchange rates of 1 USD = N1,529.2105 and 1 GBP = N2,093.9479 as at June 30, 2025.
According to the DMO, the Federal Government accounted for N141.08 trillion, representing 92.6 per cent of the total public debt stock. This figure includes N64.49 trillion in external obligations and N76.59 trillion in domestic liabilities.
Subnational governments — comprising the 36 states and the Federal Capital Territory (FCT) — owed a combined N11.32 trillion, or 7.4 per cent of the total debt. Of this amount, $4.81 billion (N7.36 trillion) was external, while N3.96 trillion was domestic.
The Nigerian Communications Commission (NCC) has unveiled a package of incentives aimed at encouraging the local manufacture of smartphones, tablets and other telecommunications equipment as part of efforts to make digital devices more affordable and expand access to technology across the country.
Chairman of the NCC Governing Board, Chief Idris Ibikunle Olorunnimbe, said the Commission was taking a more active role in driving industrial growth by creating an enabling environment for investors to establish device manufacturing plants in Nigeria.
He said the initiative would be backed by policy measures, including tax holidays and streamlined customs processes, to lower production costs and boost local manufacturing capacity.
According to Olorunnimbe, effective regulation remains essential to ensuring consumers have access to quality and affordable digital devices.
“Regulation and market integrity are what make a market affordable in the first place. They are the precondition for it. A phone is only truly cheap if it is real, if it is safe, if it connects properly, and if it carries a warranty the buyer can rely on,” he said.
He observed that while Nigeria has recorded significant improvements in telecommunications coverage, the high cost of smartphones continues to limit digital participation for many citizens.
The NCC chairman said reducing the cost of devices would complement ongoing investments in network infrastructure and help bridge the country’s digital divide.
He also called for a shift from the traditional model of outright phone purchases, saying more flexible financing arrangements would make devices accessible to a larger segment of the population.
“Retire the assumption that a Nigerian must buy a phone outright, in one payment, on the day. That is not how it works anywhere else in the world,” he added.
As part of the broader strategy, Olorunnimbe said locally manufactured smartphones, routers and MiFi devices would be integrated into the Commission’s digital inclusion initiatives.
He explained that the devices are expected to come with built-in links to educational platforms under the NCC’s zero-rated education programme, allowing students and other users to access learning materials without incurring data charges.
The devices will also feature direct access to key government digital services, including civic registration, tax administration and e-health platforms, to improve citizens’ access to essential public services.
According to him, the initiative is designed not only to expand internet access but also to ensure that digital connectivity translates into better educational opportunities, improved public service delivery and greater economic participation.
The NCC said the policy reflects its commitment to promoting indigenous technology development while supporting Nigeria’s drive towards a more inclusive and self-reliant digital economy.
See Exchange Rate As Naira Gains 0.07%
The Black Market Dollar-to-Naira Exchange Rate for 24th June 2026 Can Be Accessed Below.
NOTE: The exchange rate changes hourly. It depends on the volume of dollars available and the Demand. This means…you can buy or sell 1 dollar at a certain rate, and the price can change (high or low) within hours.
The official naira black market exchange rate in Nigeria today, including the Black Market rates, Bureau De Change (BDC), and CBN rates.
Note that the exchange rate is subject to hourly fluctuations influenced by the supply and demand of dollars in the market.
What’s the dollar to naira black market today, 24th June 2026?
The exchange rate for a dollar to naira at Lagos Parallel Market (Black Market) players sell a dollar for ₦1395 and buy at ₦1385 on Wednesday, 24th June, 2026, according to sources at Bureau De Change (BDC).
Please note that the Central Bank of Nigeria (CBN) does not recognize the parallel market (black market), as it has directed individuals who want to engage in Forex to approach their respective banks.
Dollar to Naira Black Market Rate Today
Dollar to Naira (USD to NGN) Black Market Exchange Rate Today
Selling Rate ₦1395
Buying Rate ₦1385
Dollar to Naira CBN Rate Today
Dollar to Naira (USD to NGN) CBN Rate Today
Highest Rate ₦1375
Lowest Rate ₦1365
The Nigerian naira traded at relatively stable levels against the United States dollar on Tuesday, June 23, 2026, across both the official and parallel foreign exchange markets, as market participants continued to monitor liquidity conditions and foreign exchange demand.
Latest data from the Nigerian Foreign Exchange Market (NFEM) showed that the naira exchanged at approximately ₦1,366.41 per dollar at the official market. The NFEM rate, which is published by the Central Bank of Nigeria, represents the volume-weighted average exchange rate for the day.
The official exchange rate has remained within the ₦1,350-₦1,370 range in recent weeks, supported by improved liquidity and sustained foreign portfolio inflows into local assets.
In the parallel market, also known as the black market, the dollar traded at around ₦1,400 for buying and between ₦1,410 and ₦1,420 for selling, depending on location and dealer quotations.
The spread between the official and parallel market rates remained relatively narrow compared with previous years, reflecting ongoing reforms aimed at improving transparency and efficiency in Nigeria’s foreign exchange market.
Currency traders said demand for dollars from importers, travellers and businesses remained steady, although the naira has benefited from increased confidence in the foreign exchange market and improved dollar supply.
Analysts noted that exchange rates could continue to fluctuate in response to changes in foreign exchange inflows, global oil prices and domestic economic conditions.
As of the prevailing rates, $100 would exchange for about ₦136,641 at the official NFEM window, while the same amount could fetch between ₦141,000 and ₦142,000 in the parallel market.
Foreign exchange rates remain subject to intraday movements and may vary across banks, bureaux de change operators and other market participants.
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