Story perspectives

Nigeria's Debt Soars to N187.79 Trillion Amid Crisis

1/4/2025

30 2

Summary

Story summary

Nigeria's debt is expected to hit N187.79 trillion by 2025 due to increased borrowing and naira depreciation.
Debt rose from N49.85 trillion before the 2023 elections to N134.3 trillion by mid-2024, with foreign debt at N63 trillion.
Debt servicing costs surged 69% year-on-year to N6 trillion, accounting for 50% of government spending.
Analysts caution about a looming debt crisis amid rising living costs and fiscal challenges.
Structural reforms are essential for economic stabilization and improved revenue generation.

1 of 1

Story summary

Nigeria's debt is expected to hit N187.79 trillion by 2025 due to increased borrowing and naira depreciation.
Debt rose from N49.85 trillion before the 2023 elections to N134.3 trillion by mid-2024, with foreign debt at N63 trillion.
Debt servicing costs surged 69% year-on-year to N6 trillion, accounting for 50% of government spending.
Analysts caution about a looming debt crisis amid rising living costs and fiscal challenges.
Structural reforms are essential for economic stabilization and improved revenue generation.