Nigeria's domestic debt rose to N4.59 trillion in the second quarter of 2026, marking an increase of N67.57 billion. This surge was largely attributed to Delta State, which saw its obligations jump by N155.45 billion, overshadowing reductions in debt from several other states.
According to the Debt Management Office (DMO), Delta's debt climbed from N213.85 billion to N369.30 billion, making it the largest contributor to the overall rise in domestic debt. Other states like Edo and Adamawa also recorded increases, but none matched Delta's substantial growth.
Despite the overall increase, Lagos State remains the largest debtor, with its domestic debt declining from N1.205 trillion to N1.195 trillion. Collectively, Lagos, Delta, the Federal Capital Territory (FCT), and Rivers account for nearly half of Nigeria's domestic debt stock.
The rise in domestic debt aligns with an overall increase in Nigeria's public debt, which grew from N159.35 trillion to N166.79 trillion within the same quarter. The DMO's report reflects data received from all 36 states and the FCT as of June 30, 2026, focusing solely on domestic obligations.