Economy

Nigeria’s public debt hit N152.39tr in June 2025 – DMO

Published

1 month ago

October 12, 2025

Admin

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.

Economy

See Dollar to Naira Exchange rate today, November 10, 2025

Published

21 hours ago

November 10, 2025

ADMIN

Nigeria’s official Daily Foreign Exchange Market (NFEM) rate opened the week around ₦1,436–₦1,437 to the US dollar on Monday, November 10, 2025, while the parallel (black/BDC) market continued to trade the dollar roughly between ₦1,450 and ₦1,470 depending on location and dealer.

Key figures

NFEM/official (volume-weighted average): about ₦1,436–₦1,437 per $1.

Parallel/BDC (reported ranges): buy ₦1,450–₦1,458; sell ₦1,460–₦1,470.

What happened today
The official FX window — the Daily Nigerian Foreign Exchange Market (NFEM) — remained close to the mid-₦1,430s, reflecting steady dollar inflows from exporters and remittances that kept official liquidity intact. At the same time, dollar demand in cash-heavy city BDC markets pushed parallel-market quotes higher, producing the persistent spread between the official and street rates.

Why the gap persists
Analysts point to a mix of structural and cyclical factors: the end of subsidy-related pressures, improved dollar inflows linked to higher non-oil earnings, and recent policy moves by the Central Bank of Nigeria. But limited access to small-dollar cash and the fragmented nature of BDC liquidity keep parallel-market premiums in place. International market sentiment and capital flows remain important drivers of short-term moves.

How this affects consumers and businesses

Importers and firms needing physical dollars still factor in the parallel-market premium when pricing and sourcing goods.

Remittance recipients often get rates closer to the parallel market when cash is required immediately.

Traders and FX desks monitor the NFEM rate for contractual and official reporting while using BDC quotes to assess immediate cash needs.

Over the past week the dollar–naira has fluctuated in the mid-₦1,430s to mid-₦1,460s, with occasional spikes in the parallel market when local cash demand rises. The Central Bank’s measures to improve FX liquidity and recent macroeconomic signals (including an interest-rate shift earlier in the fall) have helped reduce volatility compared with earlier in 2025, but a permanent narrowing of the spread depends on sustained, predictable dollar supply.

Economy

Naira Rebounces Against The USD, EURO, GBP Today November 6, 2025 At The Official And Black Markets

Published

5 days ago

November 6, 2025

ADMIN

See rates below:

Dollars to Naira (USD to NGN)
Type Exchange Rate Today
Buying Rate (Black Market) ₦1450
Selling Rate (Black Market) ₦1460
Official CBN Rate ₦1439

Euro to Naira (EUR to NGN)
Type Exchange Rate Today
Buying Rate (Black Market) ₦1650
Selling Rate (Black Market) ₦1685
Official CBN Rate ₦1654

Pounds to Naira (GBP to NGN)
Type Exchange Rate Today
Buying Rate (Black Market) ₦1840
Selling Rate (Black Market) ₦1940
Official CBN Rate ₦1877

Economy

SEE Dollar to Naira Exchange rate: Black Market and CBN rates

Published

2 weeks ago

October 28, 2025

Prosper Omotola

By Prosper Olayiwola

The exchange rate between the U.S. dollar and the Nigerian naira continued to fluctuate across different markets on Monday, October 27, 2025, as traders and Bureau De Change (BDC) operators reported mixed prices.

At the Lagos Parallel Market, commonly referred to as the black market, one U.S. dollar was sold at ₦1,499 and bought at ₦1,485, according to traders interviewed early Monday. This reflects a slight adjustment from weekend figures, as market demand for the greenback remained strong amid limited supply.

However, the Central Bank of Nigeria (CBN) has repeatedly emphasized that it does not recognize the parallel market, warning Nigerians against patronizing unregulated forex dealers. The apex bank maintains that all legitimate foreign exchange transactions should be carried out through authorized channels, particularly commercial banks, to ensure transparency and stability in the financial system.

Black Market (Aboki FX) Exchange Rate Today

Dollar to Naira (USD to NGN) Black Market Rate
Buying Rate ₦1,485
Selling Rate ₦1,499

Official CBN Exchange Rate Today

Dollar to Naira (USD to NGN) CBN Rate
Highest Rate ₦1,457
Lowest Rate ₦1,450

It is important to note that exchange rates may differ depending on location, volume of transaction, and demand dynamics at various trading points. Rates reported by independent sources or online platforms may also vary slightly from those published by official or regulated channels.

As Nigeria continues to grapple with inflationary pressures and declining foreign reserves, analysts say the exchange rate movement will remain one of the most closely watched indicators of economic stability in the weeks ahead.