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| The fiscal document also showed that the Federal Government recorded an overall fiscal deficit of about N10.58 trillion as of the third quarter of 2025. |
The data, sourced from the Office of the Accountant-General of the Federation and the Budget Office of the Federation, showed that total debt service expenditure stood at N12.63 trillion by the end of the third quarter of 2025, while total capital expenditure amounted to N3.10 trillion.
Nigeria has spent about N12.63trillion on debt servicing between January and September 2025, more than four times the N3.1trillion released for capital and infrastructural development within the same period, according to figures from the 2025 amended budget implementation report.
The data, sourced from the Office of the Accountant-General of the Federation and the Budget Office of the Federation, showed that total debt service expenditure stood at N12.63 trillion by the end of the third quarter of 2025, while total capital expenditure amounted to N3.10 trillion.
The figures further revealed that sinking fund payments stood at N108.17billion within the period under review, bringing total debt-related spending to N12.63trillion.
In contrast, capital expenditure performance remained significantly below projections. Out of the N23.44 trillion budgeted for capital projects for the 2025 fiscal year, only N3.10 trillion had been released by the end of September, representing roughly 13 per cent performance.
The breakdown showed that capital expenditure by Ministries, Departments and Agencies as well as other government entities stood at just N1.208 trillion, while grants and donor-funded projects accounted for N1.08 trillion. Capital expenditure for government owned enterprises stood at N615.6 billion, while capital supplementation stood at N200 billion all between January and September, 2025.
The government also recorded zero releases for multilateral and bilateral project-tied loans captured under capital expenditure during the period.
Further analysis showed that aggregate Federal Government expenditure reached N24.66 trillion within the first nine months of 2025, while total recurrent expenditure stood at N20.255 trillion.
Personnel costs for MDAs amounted to N5.09 trillion, while pension and gratuity payments, including service-wide pensions, stood at N571.94 billion.
The fiscal document also showed that the Federal Government recorded an overall fiscal deficit of about N10.58 trillion as of the third quarter of 2025.
The deficit was financed largely through domestic borrowing, which amounted to about N12.067 trillion during the period.
The report highlighted continued pressure on public finances amid rising debt obligations, weak revenue performance and low capital budget implementation.
Earlier, SaharaReporters reported that Nigeria paid a total of $848.7 million to two World Bank agencies as debt servicing in 2025, even as the country’s outstanding obligations to the institutions stood at $19.8 billion by the end of the year, according to data reviewed from the Debt Management Office (DMO).
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