Nigeria spent ₦2.70 trillion on external debt service in the second quarter of 2025, according to the Budget Office of the Federation, in its second quarter 2025 Budget implementation report. The amount is ₦1.01 trillion, or 60.05%, above the prorated quarterly sum of ₦1.69 trillion; it is also 45.2% of the ₦5.97 trillion revenue the government generated during the period, exposing the country’s precarious debt situation. Nigeria’s external debt as of June 2025 stands at ₦71.85 trillion ($46.98 billion), or 47.14% of the total debt stock. The report shows that…
Read MoreExternal debt service gulps ₦2.70tr, 45.2% of Q2-2025 revenue
