Nigeria's External Debt Reaches $145 Billion in 2025

Nigeria's external debt has reached $145.02 billion, marking a 6.6 percent increase in 2025, according to the World Bank's International Debt Report 2026 released on November 5. This figure has risen from $83.21 billion in 2015, indicating an increase of approximately $61.8 billion over ten years.

The breakdown reveals that $62.4 billion is public and publicly guaranteed debt, while $54.476 billion belongs to private borrowers without government guarantees, and $28.139 billion represents short-term external debt obligations. The report also indicates that Nigeria's external debt-to-exports ratio stood at 212 percent in 2025, with a debt-service-to-exports ratio of 19 percent.

Although the external debt-to-exports and debt-to-GNI ratios declined compared to 2024, the cost of servicing the debt increased, suggesting heightened pressure on Nigeria's financial resources. The World Bank noted that debt servicing by low- and middle-income countries has risen for the fifth consecutive year, reaching $1.4 trillion in 2025.