The Federal Government’s debt repayments exceeded the 2025 amended budget allocation by N1.9 trillion within the first nine months of the year, according to the Budget Office of the Federation.
The third-quarter Budget Implementation Report showed that total debt-related payments reached N12.63 trillion against a prorated allocation of N10.74 trillion.
Debt servicing accounted for N12.52 trillion of the total amount, surpassing budget estimates by N2.07 trillion.
The report indicated that domestic debt servicing consumed N6.23 trillion, while foreign debt servicing accounted for N6.30 trillion.
Overall, debt obligations represented approximately 67.8 per cent of the government’s retained revenue of N18.63 trillion during the period.
Finance Minister Taiwo Oyedele said government was exploring refinancing options and alternative funding sources amid improved market conditions driven by stronger oil prices.
