Minister of Finance and Coordinating Minister of the Economy, Wale Edun, yesterday said Nigeria’s debt-to-Gross Domestic Product (GDP) ratio now stands at 38.8 per cent, as macroeconomic reforms continue to drive stronger revenue performance.
The debt-to-GDP ratio of 38.8 per cent is considerably lower than average global benchmark of about 60 per cent. Nigeria’s total public debt stood at N149.39 trillion, equivalent to about $97 billion by the end of the first quarter of 2025.
Domestic borrowings made up 53 per cent while external borrowings accounted for 47 per cent.
Edun said government’s revenue grew by 34.7 per cent in the first half 2025 compared with the corresponding period of last year, expanding fiscal space for investments in priority sectors.
He said Nigeria’s bold economic reforms are beginning to yield results, with debt levels becoming more sustainable and investor confidence returning.
He said the government is committed to project-linked borrowing that yields direct returns, assuring Nigerians that the administration would avoid reliance on money-printing or unsustainable financing.
