Story perspectives

Nigeria’s Debt Servicing Soars 68% Amid Transparency Calls

8/12/2025

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Summary

Story summary

Nigerian states allocated ?235.58 billion for external debt servicing in H1 2025, marking a 68.4% rise from ?139.92 billion in H1 2024.
Citizen Monitors called for greater transparency in debt management after the Senate approved a $21.5 billion borrowing plan for 2025-2026.
NEITI highlighted that debt servicing limits state funding for essential services, with Kaduna State experiencing the largest deductions.
Recommendations include creating State Debt Management Offices and enhancing fiscal transparency to boost development funding.

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Story summary

Nigerian states allocated ?235.58 billion for external debt servicing in H1 2025, marking a 68.4% rise from ?139.92 billion in H1 2024.
Citizen Monitors called for greater transparency in debt management after the Senate approved a $21.5 billion borrowing plan for 2025-2026.
NEITI highlighted that debt servicing limits state funding for essential services, with Kaduna State experiencing the largest deductions.
Recommendations include creating State Debt Management Offices and enhancing fiscal transparency to boost development funding.