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Nigeria Spends $2.86 Billion On External Debt Servicing In Eight Months – CBN
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A year earlier, between January and August 2024, Nigeria spent $3.06 billion on debt servicing, accounting for 70.7% of its foreign outflows.
The monthly breakdown underscores the erratic nature of Nigeria’s debt repayment schedule.
Debt servicing surged in March 2025, reaching $632.36 million—more than double the $276.17 million spent in March 2024.
In May, external debt servicing fell sharply to $230.92 million, down from $854.37 million in May 2024.
Fitch Ratings recently projected that Nigeria’s external debt servicing will rise from $4.7 billion in 2024 to $5.2 billion in 2025.