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Nigeria’s Debt Hits N149.39 Trillion

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Nigeria's Debt Hits N149.39 Trillion

Nigeria’s total public debt has increased to N149.39 trillion as of March 31, 2025, according to fresh figures from the Debt Management Office (DMO).

This means the country’s debt grew by N27.72 trillion or 22.8% compared to N121.67 trillion recorded in the same period last year (March 2024).

The latest data also shows a quarterly increase. Between December 2024 and March 2025, Nigeria’s debt rose by N4.72 trillion or 3.3%.

The steady rise in debt is due to new borrowings and the weaker value of the naira, which has made Nigeria’s external debts (debts owed in foreign currencies) more expensive in naira terms.

As of March 31, 2025, Nigeria’s external debt stood at N70.63 trillion (about $45.98 billion). This was up from N56.02 trillion (about $42.12 billion) in March 2024.

That’s a jump of N14.61 trillion or 26.1% in one year. On a quarterly basis, external debt rose slightly by N344 billion or 0.5%, compared to December 2024.

While Nigeria’s foreign debt in dollars increased by around $3.86 billion year-on-year, the much bigger rise in naira terms shows how badly the exchange rate drop has affected the country’s debt figures.

Nigeria’s domestic debt (money borrowed within the country) also went up. By March 2025, it reached N78.76 trillion (about $51.26 billion), compared to N65.65 trillion in March 2024. This shows a rise of N13.11 trillion or 20% over the year.

From December 2024 to March 2025 alone, domestic debt increased by N4.38 trillion or 5.9%.

The Federal Government held the bulk of this debt, with N74.89 trillion, while the 36 states and the Federal Capital Territory (FCT) had a combined debt of N3.87 trillion.

Meanwhile, state-level domestic debt went down slightly from N3.97 trillion in December 2024 and N4.07 trillion in March 2024.

Overall, by the end of March 2025, Nigeria’s debt was almost evenly split: 52.7% domestic debt and 47.3% external debt.

Politicsnigeria.com

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BREAKING: Court Sentences Nnamdi Kanu To Life Imprisonment

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Justice James Omotosho of the Federal High Court, Abuja, has sentenced the leader of the Indigenous People of Biafra (IPOB), Mazi Nnamdi Kanu.

Naija News reports that Justice had earlier convicted Kanu on all seven counts levelled against him by the Federal Government.

The judge sentenced Kanu to life imprisonment for count 1, 2, 4,5, and 6.

He also sentenced Kanu to 20 years forcount 3 without option of fine.

The Judge sentenced Kanu to five years in prison on count seven without option of fine.

Justice Omotosho ruled that he should not be kept in Kuje prison. He forfeited Nnamdi Kanu’s radio transmitter and barred him from access to social media.

More are still coming

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Just In: FG Urges Court To Impose Death Sentence On Nnamdi Kanu

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The Federal Government has urged the Federal High Court in Abuja to impose the death sentence on the detained leader of the proscribed Indigenous People of Biafra (IPOB), Nnamdi Kanu, following his conviction on all seven terrorism counts.

The request was made on Thursday by the FG’s lead counsel, Chief Adegboyega Awomolo (SAN), shortly after Justice James Omotosho found Kanu guilty of all charges preferred against him.

Awomolo, addressing the court after the verdict, argued that the severity of Kanu’s actions merited the maximum penalty under the law.

The senior lawyer insisted that Kanu committed “many illegalities” and should not be treated with leniency.

Awomolo further reminded the court that four of the seven counts on which Kanu was convicted carry the death sentence under Nigeria’s terrorism laws.

He urged Justice Omotosho to take this into account in determining the appropriate punishment.

“It will not be considered justice that he is isolated and punished lightly in a country where we have Boko Haram, ISWAP, Lakurawa, et cetera,” he argued.

According to the prosecution, Kanu’s actions were as destabilising as those of other violent groups and should be treated with equal seriousness.

Awomolo also urged the judge to ensure that Kanu is kept in a secure correctional facility pending the court’s final pronouncement on sentencing.

He stressed the need to prevent any disruptions or security breaches involving the IPOB leader while the sentencing process is underway.

Kanu was earlier found guilty of inciting violence, ordering attacks on security personnel, calling for killings, and issuing threats capable of terrorising the public, all captured in broadcasts tendered as evidence by the prosecution.

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Court Finally Delivers Judgement In Nnamdi Kanu’s Terrorism Case

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Justice James Omotosho of the Federal High Court, Abuja, has delivered his ruling in the case between the detained leader of the Indigenous People of Biafra (IPOB), Nnamdi Kanu, and the Federal Government.

Naija News reports that the judgement was given in Nnamdi Kanu’s absence after the judge had ordered security operatives to kick him out of the court over his unruly behaviour.

Nnamdi Kanu had earlier stated that the Federal High Court sitting in Abuja does not have the jurisdiction to try him.

The separatist, who has been in custody since 2021, faced seven terrorism-related charges bordering on alleged incitement, running an unlawful group, and acts threatening national security.

The IPOB leader contended that the Terrorism Prevention and Prohibition Act, under which he is being prosecuted, has been repealed.

He urged the court to strike out the charges, describing them as “disclosing no offence known to law” and therefore invalid.

Kanu also requested that the court nullify the “purported plea of not guilty” entered on his behalf, claiming it was obtained through deception and contrary to a Supreme Court ruling.

He further asked the court to set aside all subsequent proceedings and order his immediate release.

“My contention is very simple: this court lacks jurisdiction to try me,” he said.

Delivering ruling on Thursday, Justice Omotosho ruled that the court has the authority to preside over the Nnamdi Kanu case.

The judge also stated that the matter of extradition has been settled by the Supreme Court, and he ruled against Kanu in this regard.

On the issue of fairness in the hearing for Nnmadi Kanu, Omotosho ruled against the IPOB leader, stating that the court ensured he received a fair hearing.

On the defendant not entering his defence, Justice Omotosho said: “I begged the defendant passionately to enter his defence, but he remained obsolete. That shows that he chose to rest his case on the prosecution. Which is a gamble and a risky action.”

The court found Nnamdi Kanu guilty and convicted him of count 1 in the charges filed against him by the federal government.

The Judge said: “The court will rely on the uncontroverted evidence of the prosecution. This court, therefore, finds that the prosecution has discharged Count 1 beyond reasonable doubt. Consequently, the defendant (Kanu) is hereby convicted in respect of Count 1.”

More judgement is being read and this report will be updated as it comes in…….

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