DMO: Three states hold 43% of Nigeria’s N4.52tn states’ debt

Lagos, the FCT, and Rivers State accounted for over 43% of Nigeria’s N4.52 trillion domestic debt owed by states as of March 2026, according to Nairametrics, citing Debt Management Office data.

Lagos alone held N1.21 trillion, the highest, followed by the FCT’s N389.88 billion and Rivers’ N362.43 billion. Jigawa recorded the lowest debt at N1.60 billion.

The combined states’ debt rose 3.7% from December 2025, with the FCT posting the largest increase, while Lagos, Rivers, Delta and Ogun recorded declines during the same period.