Nigeria’s total external debt stock rose by 6.6 per cent to 145.02 billion dollars in 2025, from 135.99 billion dollars recorded in 2024, according to the World Bank.
Gatekeepers News reports that the figure was contained in the institution’s International Debt Report 2026, released on Thursday, which examined external borrowing and debt servicing among low- and middle-income countries.
According to the report, Nigeria’s external debt comprised 62.4 billion dollars in public and publicly guaranteed debt, 54.48 billion dollars in private debt without government guarantees and 28.14 billion dollars in short-term obligations.
The World Bank also disclosed that Nigeria’s external debt-to-exports ratio stood at 212 per cent, while its debt-to-gross national income ratio was 51 per cent in 2025.
It added that debt servicing accounted for 19 per cent of the country’s export earnings, indicating an increase in the burden of meeting external repayment obligations.
The report further showed that Nigeria paid an average interest rate of 1.9 per cent on new borrowing from official creditors, compared with 9.6 per cent charged by private creditors.
It also noted that the country raised 2.3 billion dollars through a two-tranche international bond issuance in 2025, comprising a 10-year bond at 8.625 per cent interest and a 20-year bond at 9.125 per cent.
Meanwhile, the World Bank said external debt across low- and middle-income countries increased by 5.5 per cent to a record 9.4 trillion dollars in 2025.
The institution warned that rising borrowing costs and debt-service obligations were leaving developing countries with fewer resources for infrastructure, healthcare, education and other development priorities.
