DMO: N59.796tn FGN Bonds Accounted for 80% of N74,887tn Domestic Debt in Q1 2025

•Total public debt rose by N4.72tn in three months

Ndubuisi Francis in Abuja

FGN Bonds contributed over N59.796 trillion or 79.85 per cent to the federal government’s N74,887 trillion domestic debt obligations as of the first quarter of 2025 ending March 31, 2025.

The total public debt stock of the federal and state governments as well as the Federal Capital Territory (FCT) also posted 3.3 per cent quarter-on-quarter rise of N4.72 trillion, from N144.67 trillion as of December 31, 2024 to N149.39 trillion by March 31, 2025.

These were contained in the latest public debt figures released by the Debt Management Office (DMO) total debt stock, comprising debt owed by the government at the centre, the 36 states of the Federation and the Federal Capital Territory (FCT).

The DMO data showed that of the N78.56 trillion total domestic debt obligations of the federal and state governments as well as the FCT  as of March 31, 2025, the federal government accounted for the chunk of N74.89 trillion while the balance of N3,869 billion was for the states and FCT.

Looking at the debt instruments that constituted the federal government’s N74.89 trillion domeatic debt obligations, FGN  Bonds accounted for N59.796 trillion or approximately 80 per cent (79.85 per cent of the amount.

While FGN Naira Bonds contributed N58,387 trillion (N58,387, 428,001,592),  FGN US Dollar Bonds accounted for N1,409 trillion (N1,409,423,796,499).

Nigerian Treasury Bills (NTBs) was second among the debt instruments accounting for the federal government’s domestic debt obligations, standing at N12.699 trillion or 16.96 per cent.

 FGN Sukuk was third with N992,557 billion (1.33 per cent) while FGN Savings Bond stood at N82.614 billion or 0.11 per cent during the reference period.

FGN Green Bond was the least as of March 31, accounting for just N15 billion (0.02 per cent).

This debt instrument is expected to rise with the recent issuance of N50 billion Series 111 Sovereign Green Bond by the DMO, which attracted an overscription of N91.42 billion, and the eventual allocation of N47.335 billion to subscribers at a coupon of 18.95 per cent per annum.

Another debt instruments captured as contributing to the FGN domestic debt obligations as of March 31 were Promissory Notes, accounting for N1.301 trillion (N1,301,075,690,085.77) or 1.74 per cent.

Local currency denominated Promissory Notes stood at N271.418 billion (N271,418,810,719) while

foreign currency denominated accounted for N1.029 trillion.

Meanwhile, Jigawa retained its profile as the least indebted state in the country with debt obligations slightly above N1 billion.

 Lagos State remains the most indebted state with N874 billion, followed by Rivers, N364,393 billion and Delta, N204,724 billion.

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    Natasha: Citing Pending Appeal Court Case, NASS Blocks Senator’s Resumption Despite Suspension Expiration

    Natasha: Citing Pending Appeal Court Case, NASS Blocks Senator’s Resumption Despite Suspension Expiration

    •PDP condemns moves to stop her resumption 

    •Tells senator to get ready to resume at NASS

    Sunday Aborisade and Chuks Okocha in Abuja

    The National Assembly has formally declined Senator Natasha Akpoti-Uduaghan’s request to resume her legislative duties in the senate, despite the expiration of her six-month suspension on September 4, 2025.

    The country’s apex legislative institution cited a pending appeal at the Court of Appeal as the primary obstacle.

    Akpoti-Uduaghan, who represents Kogi Central Senatorial District, was suspended by the senate on March 6, 2025, over allegations of misconduct.

    Strongly disagreeing with the senate leadership, Peoples Democratic Party (PDP) condemned the attempt by Clerk of the National Assembly to bar Akpoti-Uduaghan from resuming at the senate after the six months’ suspension imposed on her by Senate President, Senator Godswill Akpabio, expired.

    In a statement by PDP National Publicity Secretary, Debo Ologunagba, the party said, “This reported action by the Clerk of the National Assembly smacks of a calculated attempt being orchestrated by the Senator Akpabio-led All Progressives Congress (APC) Senate leadership to abridge the right of representation of the people of Kogi Central Senatorial District and deny them a voice at the highest law-making body in the country.”

    It would be recalled that the Federal High Court had ruled that the suspension excessive and unconstitutional. But a subsequent appeal filed by the senate president prevented Akpoti-Uduaghan’s reinstatement.

    In a letter dated September 4 and signed by Acting Clerk to the National Assembly, Dr. Yahaya Danzaria, the NASS stated unequivocally that no administrative action will be taken to facilitate her return until the Court of Appeal delivered its judgement.

    Part of the letter, obtained by THISDAY in Abuja yesterday read, “The matter therefore remains sub judice, and until the judicial process is concluded and the Senate formally reviews the suspension in the light of the court’s pronouncement, no administrative action can be taken by this office to facilitate your resumption.”

    The acting clerk further assured the senator that she would be “duly notified” of the senate’s decision once the legal issues were resolved.

    Akpoti-Uduaghan had in an earlier letter dated August 28, 2025 formally notified the clerk of her intent to resume duties upon the expiration of her suspension, arguing that her suspension, being for a definite six-month period, should automatically lapse on September 4.

    Her letter partly read, “Consequently, by operation of law and in accordance with the terms of the Senate’s resolution, I am entitled to resume my full duties as a Distinguished Senator of the Federal Republic of Nigeria.”

    The senator also underscored the importance of resuming office in time to catch up on legislative duties, attend to constituency matters, and prepare for the senate’s resumption from recess.

    She insisted that delaying her return any further would infringe on her constitutional rights and the rights of her constituents.

    Despite that, the National Assembly maintained that the judiciary must take its course.

    The matter now hinged on two legal proceedings pending before the Abuja Division of the Court of Appeal.

    The first was initiated by Akpoti-Uduaghan challenging the constitutionality of her suspension, and a cross-appeal filed by the senate president.

    The stalemate underscored a broader debate on the powers of the legislature to discipline its members versus the right of elected representatives to unfettered access to their offices, especially in the absence of a final judicial ruling.

    Until the Court of Appeal rules on the matter, Akpoti-Uduaghan remains effectively locked out of the red chamber, even as her suspension term has legally run its course.

    PDP stated, “The attempt to use the National Assembly establishment against an elected Senator of the Federal Republic of Nigeria in gross violation of the provisions of the Constitution of the Federal Republic of Nigeria,1999 (as amended) and the Standing Rules of the Senate is highly provocative and constitutes a clear and present danger to democracy and overall stability of our country.”

    Ologunagba further said, “It also comes as parts of the antics being deployed severally by the APC-controlled Senate and the federal government to suffocate the opposition which further confirms the creeping totalitarianism in our country under the APC government.

    “The reported action by the Clerk of the National Assembly against Senator Akpoti-Uduaghan further brings to the fore the allegations of attacks on the right of women and sustained attempts to stifle their voices as witnessed in the various accusations of harassment against women levelled against the current Senate President, Senator Godswill Akpabio over the years.

    “The PDP demands that the Senate President should come clean on the various allegations instead of seeking to use the National Assembly establishment to further harass, intimidate and keep Senator Akpoti-Uduaghan away from the Senate.”

    The PDP spokesman said the extreme persecution of six months’ suspension unjustly imposed on Akpoti-Uduaghan, contrary to the Rules of the Senate, was more than enough and PDP stood with the people of Kogi Central and all well-meaning Nigerians in condemning the unwarranted renewed attack on Akpoti-Uduaghan.

    He said, “Our Party strongly cautions the Clerk of the National Assembly to withdraw the said letter and play by the rules by being neutral as a bureaucrat and not allow himself to be politically entangled and used as a tool to undermine democracy and the Rule of Law in the National Assembly and Nigeria.”

    PDP called on the international community, democracy institutions, right advocacy groups and other democracy development partners to rise up in condemnation of the renewed attack on Akpoti-Uduaghan.

    While charging Akpoti-Uduaghan to discountenance the reported letter by the clerk of the National Assembly and get ready to resume at the Senate, PDP demanded that the senate leadership must ensure that Akpoti-Uduaghan was allowed to resume her duties and performme her role as an elected Senator of the Federal Republic of Nigeria unhindered.

    The post Natasha: Citing Pending Appeal Court Case, NASS Blocks Senator’s Resumption Despite Suspension Expiration appeared first on THISDAYLIVE.

    ​  

    •PDP condemns moves to stop her resumption  •Tells senator to get ready to resume at NASS Sunday Aborisade and Chuks Okocha in Abuja The National Assembly has formally declined Senator
    The post Natasha: Citing Pending Appeal Court Case, NASS Blocks Senator’s Resumption Despite Suspension Expiration appeared first on THISDAYLIVE.

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