Nigeria’s Debt Interest Payments Exceed Federal Revenue by N1.5 Trillion in 2026

Nigeria’s debt interest payments surged to N7.7 trillion in the first half of 2026, a 37.5 per cent rise from N5.6 trillion in the same period of 2025. This figure exceeded the Federal Government’s revenue of N6.2 trillion by N1.5 trillion, representing 24.2 per cent.

The World Bank’s 2026 Nigeria Development Update noted interest payments reached 3.1 per cent of GDP in the first half of 2026, up from 2.5 per cent in 2025. Federal revenue increased by 72 per cent to N6.2 trillion, driven by oil receipts, corporate tax collections, and independent revenues, with customs and VAT collections stable.