The Federal Government spent N611.71 billion in March 2025 servicing its first-ever US dollar-denominated bond issued within the domestic market, making it the single largest domestic debt service item for the month and highlighting the rising cost of FX-linked obligations in Nigeria’s debt profile.
This was disclosed in the Debt Management Office (DMO)’s latest report on actual domestic debt service for Q1 2025.
The report shows that the March payment accounted for 47.05% of the total N1.3 trillion spent on domestic debt servicing that month and 23.44% of the N2.61 trillion total spent in the entire first quarter.