The budget office of the federation says the federal government spent N3.41 trillion on debt servicing in the third quarter (Q3) of 2025.
In its recent 2025 Q3 macroeconomics & financial
analysis report, the office said the figure represents N171.9 billion or 4.8
percent below the projected N3.58 trillion for the period.
“Total Debt Service in the third quarter of 2025 stood at
N3.41 trillion, indicating a decrease of N171.90 billion (4.80 percent) below
the N3.58 trillion projected for the quarter,” the report said.
The office said N1.8 trillion was projected for domestic
debt servicing in Q3 2025, but actual spending stood at N111.07 billion or 6.18
percent above the projection for the quarter.
The report said external debt servicing stood at N1.69
trillion during the quarter, representing N211.72 billion or 12.55 percent
below the projected figure.
Total government expenditure in Q3 2025 was reportedly N8.03
trillion, reflecting a decrease of N5.71 trillion or 41.57 percent from the
prorated quarterly budget of N13.75 trillion.
However, the office said expenditure was N390 billion or
4.86 percent higher than the N7.64 trillion recorded in the corresponding
period of 2024.
“A total of N2.66 trillion was spent on non-debt recurrent
expenditure in the third quarter of 2025,” the office added.
“This represents a decrease of N739.01 billion (21.75
percent) from the quarterly estimate of N3.40 trillion but a N0.83 trillion
(31.20 percent) increase from the N1.83 trillion recorded in the third quarter
of 2024.“
‘NIGERIA RECORDED N330 BILLION FISCAL DEFICIT IN Q3 2025’
The budget office report also showed that Nigeria recorded a
fiscal deficit of N330 billion in Q3 2025, representing a decline of 90.68
percent from the projected quarterly deficit of N3.53 trillion.
“The revenue and expenditure outturn of the Federal
Government resulted in a fiscal deficit of N0.33 trillion in the third quarter
of 2025,” the budget office said.
“This was N3.20 billion (90.68 percent) below the projected
quarterly fiscal deficit of N3.53 trillion.
“This translates to a deficit to GDP ratio of 2.29 percent
in the quarter under review which is within the 3 percent threshold for the
country and the ECOWAS convergence criteria.”
The office noted that the fiscal deficit was significantly
lower than the N3.17 trillion deficit recorded in the Q3 2024.
According to the report, the deficit was financed through
privatisation proceeds and domestic borrowing.
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