Federal Government debt repayments exceeded the 2025 amended budget allocation by N1.90tn in the first nine months of the year, fresh data from the Budget Office of the Federation showed.
The 2025 third quarter Budget Implementation Report showed that total debt-related payments, including domestic debts, foreign debts and sinking fund, rose to N12.63tn between January and September, compared with the prorated budget provision of N10.74tn. This represents an overrun of N1.90tn or 17.65 per cent.
The pressure was driven mainly by debt service, which stood at N12.52tn in the first three quarters, against the prorated allocation of N10.45tn, showing excess spending of N2.07tn or 19.8 per cent.
A breakdown showed that domestic debt service gulped N6.23tn, exceeding its N5.39tn provision by N832.42bn. Foreign debt service also rose to N6.30tn, surpassing its N5.06tn allocation by N1.24tn.
The figures indicate that 67.2 per cent of the Federal Government’s retained revenue of N18.63tn
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