ADC knocks FG as public debt hits N159.35tn

Nigeria's public debt has reached N159.35 trillion by the end of March 2026, marking a substantial increase of nearly N10 trillion over the preceding year. The African Democratic Congress (ADC) has voiced strong criticism, labeling the Federal Government's borrowing strategy as unsustainable and warning of potential bankruptcy if the trend persists.

The Debt Management Office (DMO) reported that the nation's debt stock grew by 6.67 percent in naira terms from N149.39 trillion in March 2025 to N159.35 trillion a year later. In dollar terms, this increase was more pronounced at 18.22 percent, with the debt rising from $97.24 billion to $114.95 billion.

Analysis of DMO data reveals a significant shift towards domestic borrowing. Over the three months from December 2025 to March 2026, domestic debt rose by N2.55 trillion, now constituting 54.85 percent of the total public debt, up from 53.27 percent. This increase in domestic obligations nearly offset a substantial fall in the naira valuation of external debt, which declined by N2.48 trillion due to a stronger exchange rate. External debt's share of the total portfolio consequently decreased from 46.73 percent to 45.15 percent.

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The Federal Government’s increasing debt profile and the current level of debt servicing had severely constrained the country’s finances and its ability to execute development projects.