Nigeria’s total public debt stood at N166.79 trillion as of June 30, 2026, according to the Debt Management Office, translating to about N702,185 for every Nigerian, based on a population estimate of 237.53 million from the World Bank.
The per-capita calculation shows the country’s debt burden relative to the base income for Nigerian workers, with the average public debt per Nigerian equivalent to about 10 months of earnings at the current N70,000 national minimum wage.
The Debt Management Office (DMO) reported that Nigeria’s total public debt comprised N91.59 trillion in domestic debt and N75.20 trillion in external debt as of June 30. Domestic debt accounted for 54.91 percent of the total portfolio, while external debt made up 45.09 percent.
At N70,000 a month, a worker earning the national minimum wage receives N840,000 in a full year before deductions. The N702,185 per-capita public debt therefore represents roughly 83.6 percent of one year’s minimum-wage income, or approximately 10 months of the statutory monthly wage.
The DMO’s June debt position also shows that the Federal Government accounts for the overwhelming share of the outstanding obligations. Federal Government-only domestic debt stood at N87.00 trillion, while Federal Government external debt was N65.77 trillion. States and the Federal Capital Territory accounted for the remaining N14.01 trillion combined.
The DMO used an official exchange rate of N1,379.1842 per dollar to convert external debt into naira on June 30, 2026.
On a per-person basis, the N702,185 debt figure is higher than the N70,000 monthly minimum wage by roughly 10 times, underscoring the size of the government’s accumulated obligations when measured against the statutory wage floor.
The calculation does not account for differences in income, employment status, or tax contributions among Nigerians, and is an aggregate indicator rather than an individual liability.