Nigeria’s subnational domestic debt increased during the first quarter of 2026, fueled primarily by a surge in borrowing within the Federal Capital Territory (FCT).
The FCT recorded a 106.43% increase in borrowing during the period, according to data reported by Nairametrics. This sharp spike in the capital’s debt profile served as the primary driver for the overall rise in domestic debt across Nigeria’s subnational entities.
The increase indicates a heightened reliance on domestic credit by the FCT administration to fund its operations or infrastructure projects as of March 2026.
The trend reflects broader fiscal pressures facing subnational governments in Nigeria, as borrowing levels fluctuate to cover budgetary gaps and development needs.
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