Nigeria’s Federal Government generated ₦6.2 trillion in revenue in the first half of 2026 but spent ₦7.7 trillion servicing debt interest, according to the World Bank’s October Nigeria Development Update. The figures mean interest payments exceeded revenue by ₦1.5 trillion, raising concerns about the country’s debt burden.
The Federal Government says revenue is growing faster than interest payments, pointing to ongoing economic reforms. Meanwhile, Nigeria has secured another $1.25 billion World Bank loan, with principal repayments scheduled to extend as far as 2060.
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