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Côte d'Ivoire
Senegal
Kenya
Egypt
South Africa
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Public debt: how much, to whom, and at what cost
How much Nigeria owes, to whom, what it costs to service, and how that compares with other African economies.
Charts and historical trends
Choose a time range, hover for values, and download the data behind each chart.
Government gross debt, % of GDP (IMF)
| Year | Value |
|---|---|
| 2005 | 13.4% |
| 2006 | 6.7% |
| 2007 | 5.8% |
| 2008 | 5.2% |
| 2009 | 6.1% |
| 2010 | 6.7% |
| 2011 | 12.4% |
| 2012 | 12.5% |
| 2013 | 13.0% |
| 2014 | 15.8% |
| 2015 | 14.9% |
| 2016 | 17.4% |
| 2017 | 18.0% |
| 2018 | 20.4% |
| 2019 | 21.4% |
| 2020 | 25.7% |
| 2021 | 26.6% |
| 2022 | 29.8% |
| 2023 | 36.3% |
| 2024 | 39.3% |
| 2025 | 36.1% |
| 2026 | 34.6% |
External debt stocks, US$ (World Bank)
| Year | Value |
|---|---|
| 2005 | $33.7bn |
| 2006 | $17.5bn |
| 2007 | $19.5bn |
| 2008 | $20.4bn |
| 2009 | $22.7bn |
| 2010 | $29.1bn |
| 2011 | $34.1bn |
| 2012 | $39.3bn |
| 2013 | $42.6bn |
| 2014 | $46.7bn |
| 2015 | $45.0bn |
| 2016 | $43.7bn |
| 2017 | $65.1bn |
| 2018 | $69.4bn |
| 2019 | $81.3bn |
| 2020 | $87.6bn |
| 2021 | $96.3bn |
| 2022 | $103.1bn |
| 2023 | $102.5bn |
| 2024 | $108.8bn |
Coming next: Quarterly DMO debt stock tables (domestic, external and by state) are being added to the Data Hub.
How Nigeria compares
Latest available year for each country, from the same international source. Nigeria is highlighted.
- Senegal127.7% 2025
- Egypt84.0% 2026
- South Africa78.0% 2026
- Kenya72.9% 2026
- Morocco66.6% 2026
- Rwanda63.4% 2026
- Côte d'Ivoire57.8% 2026
- Ghana51.7% 2026
- Ethiopia40.7% 2026
- Nigeria34.6% 2026
- South Africa$175.9bn 2024
- Egypt$156.0bn 2024
- Nigeria$108.8bn 2024
- Morocco$68.0bn 2024
- Senegal$47.1bn 2024
- Kenya$42.9bn 2024
- Côte d'Ivoire$40.6bn 2024
- Ghana$37.4bn 2024
- Ethiopia$36.5bn 2024
- Rwanda$13.1bn 2024
What each indicator means
Definitions, units, how often each figure is published and who publishes it. Each chart shows its reference period.
| Indicator | Definition | Unit | Frequency | Source |
|---|---|---|---|---|
| Total public debt | Domestic and external debt of the federal government, the 36 states and the FCT. | ₦ trillion; US$ billion | Quarterly | Debt Management Office (DMO) |
| Domestic debt | Debt owed to lenders in Nigeria: FGN bonds, Treasury bills, sukuk and promissory notes. | ₦ trillion | Quarterly | DMO |
| External debt | Debt owed to foreign lenders: multilateral, bilateral and commercial, including Eurobonds. | US$ billion | Quarterly | DMO; World Bank International Debt Statistics |
| Debt service | Interest and principal paid on debt in a period. | ₦ trillion | Annual (budget); quarterly (actual) | Budget Office; DMO |
| Debt-to-GDP ratio | Gross government debt as a share of nominal GDP: a common measure of sustainability. | % of GDP | Annual | IMF World Economic Outlook |
| Debt service-to-revenue ratio | The share of government revenue spent on debt service: a measure of affordability. | % of revenue | Annual | Eco Data Technologies calculation from Budget Office data |
How these figures are compiled
Debt ratios for comparison use IMF general government gross debt and World Bank external debt stocks, which are annual. Budgeted debt service comes from the Appropriation Acts and can differ from actual payments. Nigerian debt figures are reported by the DMO in naira and dollars; conversions use the exchange rate the DMO applies.
Get the data
- Federal debt service in the budget, 2022–2026 CSVExcelJSON
- 2026 budget: plan vs actual, January–March 2026 CSVExcelJSON
- Federation Account allocation by tier of government, September 2026 CSVExcelJSON
- FAAC allocations to states and local governments, June 2023 to September 2026 CSVExcelJSON
- Federal budget by type of spending, as passed (2014–2026) CSVExcelJSON
- Federal budget size, 2016–2026 CSVExcelJSON
- Federal revenue: budgeted vs actual, 2017–2024 CSVExcelJSON
- 2026 budget proposal: largest sector allocations CSVExcelJSON
Analysis and publications on this topic
See also: Government Budget Explorer · Money markets
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