FG Challenges World Bank’s N7.7trn Interest Payment Claim

The federal government has contested the World Bank's evaluation of Nigeria's N7.7 trillion interest payments during the first half of 2026, calling the analysis misleading. The disagreement emerged after the World Bank's Nigeria Development Update (NDU) in October 2026 reported that Nigeria's debt servicing-to-revenue ratio reached 124 per cent for the first half of the year.

The Federal Ministry of Finance highlighted that some taxes are collected mainly in the second half of the year, making first-half revenue an inadequate measure for assessing annual debt obligations. This explanation was provided in response to recent analysis and public commentary that cited the World Bank's findings.

Interest payments increased by 38 per cent, from N5.6 trillion to N7.7 trillion, over the same period.