Tag: Debt servicing

FG spends ₦27.2tr on debt servicing in 2yrs

Aminu Imam
FG on debt servicing

Nigeria spent about ₦27.2 trillion servicing public debt between 2024 and 2025, exceeding capital expenditure by roughly ₦3.9 trillion during the same period, according to a media brief from the Federal Ministry of Finance. The document showed that debt servicing rose from ₦12.63 trillion in 2024—well above the ₦8.56 trillion budgeted—to ₦14.57 trillion in 2025, surpassing the ₦13.12 trillion provision in the budget. Overall, actual debt payments exceeded projections by about ₦5.52 trillion across the two years. The ministry attributed the increase largely to macroeconomic factors such as the depreciation…

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Nigeria’ debt servicing soars 49% in 4 months, exposing fiscal vulnerabilities

Aminu Imam
Nigeria’ debt servicing

Nigeria’s debt service payments have surged by a staggering 49.2 percent year-on-year, reaching $2.01 billion in the first four months of 2025, when compared to $1.34 billion recorded in the same period in 2024.  This alarming rise was revealed in the latest International Payments data released by the Central Bank of Nigeria (CBN), underscoring the mounting pressure on the country’s fragile economy. The sharp increase in debt servicing costs highlights Nigeria’s growing struggle to meet its external obligations, especially in the face of persistent foreign exchange shortages and a weak…

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