Nigeria’s external debt rises to $145bn in World Bank report

Nigeria’s external debt reached $145.015 billion at the end of 2025, up 6.6 per cent from the previous year, according to the World Bank.

The bank’s International Debt Report 2026 country profiles put public and publicly guaranteed debt at $62.4 billion. Private nonguaranteed borrowing and short-term debt made up the rest.

The total therefore includes more than government borrowing: private debt without a public guarantee stood at $54.476 billion, while short-term obligations were $28.139 billion.

Total external debt was $83.213 billion in 2015. The figures cover what Nigeria owes foreign creditors, not its domestic debt.

Multilateral lenders accounted for $31.365 billion of public and publicly guaranteed external debt. Private creditors held $24.352 billion and bilateral creditors $6.683 billion.

External debt service was equivalent to 19 per cent of exports and 5 per cent of gross national income in 2025, the profile showed.

The report also sets out the terms of new borrowing commitments. Official creditors charged an average interest rate of 1.9 per cent, compared with 9.6 per cent for private creditors. Average maturities were 25 years and 12 years respectively.

Sources: World Bank country profiles, Nigeria; Daily Trust; Channels Television