Nigeria spent about $5.21bn servicing its external debt obligations in 2025, accounting for more than 72 per cent of the country’s total international payments during the year.
Data obtained from the Central Bank of Nigeria revealed that the country’s external debt service payments increased compared with the previous year.
Figures published on the bank’s website showed that external debt servicing rose from $4.66bn in 2024 to $5.21bn in 2025. This represents an increase of $551.86m, or about 11.9 per cent year-on-year.
The rise occurred despite a slight decline in Nigeria’s overall international payments during the same period.
According to the data, total international payments dropped from $7.44bn in 2024 to $7.22bn in 2025, indicating a reduction of $217.68m, or roughly 2.9 per cent.
However, the proportion of those payments used to service external debt rose significantly.
The data showed that 72.11 per cent of Nigeria’s international payments in 2025 were used to meet foreign debt obligations. This is higher than the 62.58 per cent recorded in 2024.
The figures indicate that nearly three out of every four dollars Nigeria spent externally in 2025 went toward servicing foreign debts.
Analysts say the development highlights the growing pressure of debt repayments on Nigeria’s external financial commitments, raising concerns about the sustainability of the country’s debt burden.
