Nigeria, April 15 -- The latest number represents an increase from N153.29 trillion recorded in September 2025, showing a quarterly rise of N5.98 trillion. On a yearly basis, debt also climbed from N144.67 trillion in December 2024, underscoring the steady expansion of the country's obligations.



Accounting for more than half of the total debt stock, local borrowing continued as the main engine of growth. External debt came in at N74.43 trillion in December, while local debt surged to N84.85 trillion.



The News Chronicle can confirm that greater reliance on home borrowing is evidence of attempts to minimize foreign-currency risk, yet it also raises concerns about growing debt-servicing costs and strain on public finances.



The f...