Nigeria’s Debt Hits N166.79tn as Interest Accounts for 56.5% of External Payments

Nigeria's public debt rose by N7.44 trillion to N166.79 trillion in the second quarter of 2026, even as spending on external obligations fell to $870.73 million, according to Debt Management Office (DMO) figures. Although the quarterly external debt service bill fell by 8.7 per cent, interest alone accounted for $491.73 million, or 56.5 per cent, of the payments made between April and June. Commercial creditors received $325.70 million during the period, with no principal repayment recorded under that category. The total debt stock comprised N91.59 trillion in domestic debt and about N75.19 trillion in external debt.

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