The Federal Govt’s exceptional promises and contingent liabilities stood at N7.84 trillion as of June 30, 2026, with collateral for a $1.5 billion Overall Go back Switch accounting for N2.74 trillion, or 34.99% of the full.
The figures are contained within the Debt Control Place of business’s (DMO) document on exceptional Federal Govt promises and contingent liabilities, which covers exposures around the continual sector, monetary establishments, infrastructure tasks and pension tasks.
The document places the full at N7.84 trillion, with power-sector tasks and promises for the Financial institution of Business additionally accounting for considerable parts of the publicity.
Greenback change collateral dominates FG liabilities
The collateral for the Overall Go back Switch with First Abu Dhabi Financial institution was once the most important merchandise within the DMO’s breakdown, accounting for nearly 35% of exceptional promises and contingent liabilities.
The Federal Govt drew down $1.5 billion below the $5 billion change association and issued Federal Govt bonds due in Might 2032, sporting a discount of 16.9556%, as collateral for the volume drawn.
Different main exposures come with:
- Energy-sector contingent liabilities coming up from Put-Name Possibility Agreements (PCOAs) stood at N1.88 trillion, representing 23.93% of the full.
- The Financial institution of Business ensure amounted to N1.18 trillion, or 15.04% of the full, in admire of its €750 million Eurobond.
- The ensure for Lekki Port LFTZ Undertaking, which covers the Lekki Deep Sea Port mission, stood at N804.96 billion, accounting for 10.27%.
- The Nigeria Bulk Electrical energy Buying and selling (NBET) Plc power-sector bond ensure amounted to N501.02 billion, whilst pension arrears for ministries, departments and businesses stood at N374.88 billion.
The figures display that the change collateral, power-sector tasks and Financial institution of Business ensure in combination account for lots of the Federal Govt’s reported publicity.
Energy sector accounts for vital publicity
The DMO indexed N1.88 trillion in contingent liabilities coming up from PCOAs for the Azura-Edo Unbiased Energy Undertaking, Calabar Nationwide Built-in Energy Undertaking, Afrinergia Energy Restricted and CT Cosmos.
- An additional N329.80 billion was once recorded below Partial Possibility Promises (PRGs) for continual tasks, representing 4.21% of the full. NBET equipped the underlying information for each classes.
- The federal government additionally assured N501.02 billion below the primary sequence of NBET’s N4 trillion Energy Sector Bond Issuance Programme, established thru a distinct function car to settle money owed owed to electrical energy technology firms.
Different reported exposures come with N5.24 billion for the Federal Loan Financial institution of Nigeria and N25.35 billion for the Nigeria Loan Refinance Corporate. The latter ensure helps long-term investment thru capital-market notes used to refinance or acquire mortgages originated by means of eligible loan lenders.
The DMO mentioned N29 billion were utilised from the N440 billion ensure to be had to the Nigeria Loan Refinance Corporate.
FG debt-service prices stay considerable
The most recent ensure figures come amid endured power from debt-service tasks. Nairametrics prior to now reported that Nigeria spent N5.28 trillion servicing domestic debt within the first part of 2026, with pastime and apartment bills accounting for N4.95 trillion.
The newsletter additionally reported that the Federal Govt incurred N10.61 trillion in more debt-service prices between June 2023 and December 2025, about N4.14 trillion greater than the N6.47 trillion spent on strategic infrastructure over the similar length.
In a separate document, Nairametrics mentioned the Federal Govt borrowed N11.9 trillion between June 2023 and December 2025, whilst arguing that financial reforms had created fiscal house and avoided even upper borrowing.