Nigeria's External Debt Servicing Hits $1.82 Billion in H1 2026

In the first half of 2026, Nigeria spent $1.82 billion servicing its external debt, a decrease of 21.5% from $2.32 billion in the same period of 2025. This reduction was primarily due to a significant drop in principal repayments.

However, interest payments increased to $1.11 billion from $993.95 million year-on-year, marking a 12.2% rise. Interest payments constituted 61.1% of the total external debt-service payments, underscoring the growing cost of maintaining external financing obligations.

The external debt stock of Nigeria rose to $106.43 billion in H1 2026, compared to $92.96 billion in H1 2025. Multilateral institutions received the largest share of debt-service payments, with the International Development Association being the top recipient.

Commercial creditors, including Eurobond investors, saw their receipts rise by 19.39% to $827.54 million, making them the largest category by receipts. Nigeria's payments to bilateral creditors also increased by 16.7% to $321.14 million during this period.