Tag: External Debt

External debt service gulps ₦2.70tr, 45.2% of Q2-2025 revenue

Aminu Imam
External debt

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…

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Nigerias external debt service rises 37% to $2.1bn – Report

Aminu Imam

The Federal Government spent $2.12 billion to service the country’s external debt in 2021, representing a 37 percent increase from $1.56 billion spent in 2020. Data from the Central Bank of Nigeria, (CBN), however, shows a 58% decline in debt service payment in the second half of the year (H221), to $824.41 million, from $1.3 billion in the first half of the year (H121). However, the $824.41m external debt service payment in H221 represents a 3.4%, year-on-year, (YoY) increase from $797.48 million spent in the corresponding period of 2020 (H22020).…

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