Nigeria’s Federal Government Interest Bill Surpasses Revenue by N1.5tn in First Half of 2026

The Federal Government’s interest payments for the first half of 2026 reached 124.2 per cent of its N6.2tn revenue, according to the World Bank’s October 2026 Nigeria Development Update.

The Federal Government’s N7.7tn interest bill exceeded its N6.2tn revenue by N1.5tn during the same period, indicating a substantial shortfall in fiscal management.

Reported capital expenditure dropped to N700bn, representing approximately one-eleventh of interest payments despite a 72.2 percent rise in revenue.

Carnival Calabar’s economic activities have attracted private capital investment, with local authorities targeting growth in the festival economy through tourism and spending initiatives.

Carnival Calabar’s tourism and local spending have increased, supported by Cally Air’s plans to expand flight services to boost regional connectivity.