Nigeria Set to Spend N54.3 Trillion on Debt Servicing Between 2026–2028 as Domestic and External Obligations Soar
A review of Nigeria’s Medium Term Expenditure Framework (MTEF) for 2026–2028 shows that debt servicing will consume N54.3 trillion of the country’s revenue, with N15.5 trillion earmarked for 2026 and N19.4 trillion each for 2027 and 2028. Recent data from the Central Bank of Nigeria reveal that the Tinubu administration has already spent $9.9 billion on external debt between June 2023 and August 2025. The rising trend in both domestic and external debt payments highlights growing fiscal pressure and raises concerns about the sustainability of Nigeria’s public finances.
A review of Nigeria’s Medium Term Expenditure Framework (MTEF) for 2026–2028 shows that debt servicing will consume N54.3 trillion of the country’s revenue, with N15.5 trillion earmarked for 2026 and N19.4 trillion each for 2027 and 2028. Recent data from the Central Bank of Nigeria reveal that the Tinubu administration has already spent $9.9 billion on external debt between June 2023 and August 2025. The rising trend in both domestic and external debt payments highlights growing fiscal pressure and raises concerns about the sustainability of Nigeria’s public finances.
Nigeria Set to Spend N54.3 Trillion on Debt Servicing Between 2026–2028 as Domestic and External Obligations Soar
A review of Nigeria’s Medium Term Expenditure Framework (MTEF) for 2026–2028 shows that debt servicing will consume N54.3 trillion of the country’s revenue, with N15.5 trillion earmarked for 2026 and N19.4 trillion each for 2027 and 2028. Recent data from the Central Bank of Nigeria reveal that the Tinubu administration has already spent $9.9 billion on external debt between June 2023 and August 2025. The rising trend in both domestic and external debt payments highlights growing fiscal pressure and raises concerns about the sustainability of Nigeria’s public finances.
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