Nigeria’s total debt service rose to ₦16.26 trillion in 2025, up from ₦7.79 trillion in 2023, according to data released by the Debt Management Office. The figures show a sustained increase since President Bola Ahmed Tinubu assumed office in the third quarter of 2023, with quarterly repayments reaching a record ₦4.86 trillion in the final quarter of 2025.
The data indicate a structural shift in Nigeria’s debt profile, with quarterly servicing rising from an average below ₦1 trillion before mid-2023 to between ₦2.46 trillion and ₦4.86 trillion thereafter. External debt repayments surged significantly, exceeding ₦1 trillion in most quarters and peaking at ₦2.57 trillion in late 2025.
In 2024, total federal government revenue stood at ₦20.98 trillion, while debt servicing accounted for ₦12.74 trillion, representing about 60.7 percent of earnings. Total government expenditure for that year was ₦34.49 trillion, with debt service making up nearly 37 percent of spending.
Also Read: Over 5,000 Nigerian Air Passengers Got ₦1 Billion Refunds in 3 Months Says NCAA
For 2025, projections based on available data show revenue at ₦23.43 trillion against debt service of ₦16.26 trillion, meaning nearly 70 percent of government income is being used to meet debt obligations. The figures highlight increasing fiscal pressure, with external debt repayments forming a larger share of total obligations.
Leave feedback about this
You must be logged in to post a comment.