FG Clarifies Interest Payment vs Revenue in H1 2026

The Federal Government has refuted claims that its interest payments surpassed revenue in the first half of 2026, asserting that the interpretation of World Bank data was misleading and lacked proper context.

In a statement released on October 18, 2026, the Federal Ministry of Finance explained that reports suggesting interest payments reached 124 per cent of revenue were based on incomplete figures and comparisons that did not accurately represent Nigeria’s fiscal position.

The ministry clarified that the interest payment figure in the World Bank’s Nigeria Development Update included debts serviced by the federal government on behalf of states and other tiers of government, while the revenue figure only covered federal revenue.