As of June 30, 2026, Nigeria's 36 states and the Federal Capital Territory (FCT) carried a combined domestic debt of N4.59 trillion, according to data released by the Debt Management Office (DMO). This figure represents 2.75% of Nigeria's total public debt of N166.79 trillion as of the same date.
Federal Government Holds Bulk of Domestic Debt
The DMO data showed that the federal government held the bulk of the country's domestic debt at N87.00 trillion, while states and the FCT accounted for the remaining N4.59 trillion of the N91.59 trillion total domestic debt. This means subnational governments are responsible for just over 5% of the nation's domestic borrowing.
On the external debt side, the federal government owed N65.77 trillion, while states and the FCT together accounted for N9.42 trillion. Nigeria's total public debt reached N166.79 trillion as of June 30, 2026, with domestic debt accounting for N91.59 trillion (54.91% of the total) and external debt at N75.20 trillion (45.09%).
Lagos Tops State Domestic Debt Rankings
Lagos State carried the highest domestic debt burden among subnational governments, with a stock of N1.20 trillion. Delta State ranked second with N369.30 billion, followed by Rivers State with N354.64 billion. The FCT ranked fourth with N358.79 billion, slightly ahead of Rivers.
Edo State followed with N214.93 billion, Ogun at N189.05 billion, Bauchi at N157.35 billion, and Niger at N140.00 billion. Cross River with N130.01 billion and Benue with N112.32 billion completed the top ten list of states with the highest domestic debt.
Jigawa Records Lowest Domestic Debt
At the opposite end, Jigawa State recorded the lowest domestic debt among the 36 states, at N1.04 billion. Ondo followed with N6.16 billion, while Anambra recorded N9.62 billion. Ebonyi, Katsina, Kebbi, Kogi, Nasarawa, Ekiti, and Sokoto also ranked among the states with the smallest domestic debt stocks.
The data highlights significant differences in domestic debt stocks among Nigeria's subnational governments. Lagos alone accounts for over a quarter of the total state and FCT domestic debt, while several states owe less than N20 billion. This disparity reflects varying fiscal capacities and borrowing needs across the federation.
