State Domestic Debt Hits N4.59 Trillion, Lagos Leads With N1.20trn

• Nigeria's 36 states and the FCT recorded a combined domestic debt of N4.59 trillion as of June 30, 2026, DMO data showed
• Lagos State topped the domestic debt rankings, with Delta, Rivers and the FCT also among the highest-owing subnational governments
• Jigawa recorded the lowest domestic debt among all states, while several others owed less than N20 billion

Legit.ng journalist Dave Ibemere has over a decade of experience in business journalism, with in-depth knowledge of the Nigerian economy, stocks, and general market trends.

Nigeria's 36 states and the Federal Capital Territory (FCT) owed a combined domestic debt of N4.59 trillion as of June 30, 2026, according to data released by the Debt Management Office (DMO).

The figure accounts for 2.75% of Nigeria's total public debt of N166.79 trillion as of the same date.

Data obtained from the Debt Management Office 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.

Lagos leads states with highest domestic debt

Lagos State carried the highest domestic debt burden among the 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.

Edo State, with N214.93 billion, Ogun with N189.05 billion, Bauchi with N157.35 billion and Niger with N140.00 billion followed, while Cross River with N130.01 billion and Benue with N112.32 billion completed the top 10.

States with the lowest domestic debt

At the other end of the ranking, 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.

Nigeria's total public debt

Earlier, Legit.ng reported that the DMO data showed that Nigeria's total public debt reached N166.79 trillion as of June 30, 2026.

Domestic debt accounted for N91.59 trillion, or 54.91% of the total, while external debt stood at N75.20 trillion, representing 45.09%.

On the external debt side, the Federal Government owed N65.77 trillion, while the states and FCT together accounted for N9.42 trillion.

The data highlights significant differences in domestic debt stocks among Nigeria's subnational governments, with Lagos accounting for a substantially larger share than other states.