CBN Projects Nigeria's Public Debt to Reach 34.68% of GDP by 2026

The Central Bank of Nigeria (CBN) forecasts Nigeria's public debt to increase to 34.68% of GDP by 2026, driven by exchange rate stability. Despite a slight rise from 33.98% in June 2025, the CBN expects the trajectory to remain sustainable.

The apex bank attributes recent debt accumulation to exchange rate fluctuations but anticipates a narrowing impact in 2026. The outlook supports tax reforms, stronger growth, and reduced reliance on exchange rate-driven debt growth to enhance debt sustainability.

The World Bank also acknowledges Nigeria's development efforts.