Nigeria’s regional debt profile showed contrasting trends over a one-year period, with the South-East achieving a notable reduction while the South-West recorded the highest increase among the six geopolitical zones.
According to newly compiled figures comparing December 2024 to December 2025, the South-East reduced its debt stock by 12.14 percent, dropping from N358.3 billion to N314.79 billion. This marks the most significant decline across all regions during the period under review.
The South-South also recorded a marginal decrease of 0.76 percent, with debt falling slightly from N1 trillion to N992.41 billion.
In contrast, all northern regions posted increases in their debt profiles. The North-East rose by 7.22 percent, moving from N465.78 billion to N499.42 billion, while the North-West saw a 12.4 percent increase from N243.1 billion to N273.26 billion. The North-Central recorded a 13.75 percent rise, climbing from N548.22 billion to N623.62 billion.
However, the most significant surge came from the South-West, where total debt jumped by 22.5 percent—from N1.35 trillion in December 2024 to N1.66 trillion in December 2025—making it the region with the highest increase within the period.
The data highlights widening disparities in fiscal management and borrowing patterns across Nigeria’s regions, raising fresh questions about debt sustainability and economic priorities at the subnational level.
Analysts say the divergent trends may reflect differences in revenue generation, infrastructure spending, and fiscal discipline among the regions.
