External debt stocks in Nigeria
Nigeria: External debt stocks was 60.0% in 2024. ◆ Volatile
External debt stocks in Nigeria, 2008–2024
Source: International Debt Statistics, World Bank (WB). Measured in % of GNI.
Analysis
In 2024, external debt stocks in Nigeria stood at 60.0%. That is the highest value across all 17 years on record.
That represents a change of up 106.8% on the previous year and up 614.0% over ten years.
Over the whole period, external debt stocks in Nigeria peaked at 60.0% in 2024 and was at its lowest, 6.3%, in 2008.
Nigeria ranks 38th of 122 countries on this measure, in the middle of the range.
The series is highly variable year to year, so single readings are best treated with caution.
External debt stocks in Nigeria, year by year
| Year | % of GNI | Change |
|---|---|---|
| 2008 | 6.3% | — |
| 2009 | 8.1% | +28.8% |
| 2010 | 8.4% | +3.5% |
| 2011 | 8.7% | +3.9% |
| 2012 | 8.9% | +2.0% |
| 2013 | 8.6% | -3.1% |
| 2014 | 8.4% | -2.4% |
| 2015 | 9.4% | +11.5% |
| 2016 | 11.0% | +17.1% |
| 2017 | 17.7% | +61.5% |
| 2018 | 16.9% | -4.6% |
| 2019 | 17.5% | +3.3% |
| 2020 | 20.5% | +17.2% |
| 2021 | 22.3% | +8.7% |
| 2022 | 22.2% | -0.4% |
| 2023 | 29.0% | +30.9% |
| 2024 | 60.0% | +106.8% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2000s | 7.2% | 6.3% | 8.1% | 2 |
| 2010s | 11.6% | 8.4% | 17.7% | 10 |
| 2020s | 30.8% | 20.5% | 60.0% | 5 |
Countries ranked near Nigeria
- 35 Kazakhstan 62.6% compare
- 36 Serbia 62.2% compare
- 37 Uzbekistan 60.5% compare
- 39 Sri Lanka 58.9% compare
- 40 Republic of Moldova 57.1% compare
- 41 Bulgaria 55.1% compare
More economy & growth data for Nigeria
- Africa's Development Dynamics (AfDD) Table 04 - Annual real GDP 1.04 Percent per annum (2029)
- Africa's Development Dynamics (AfDD) Table 02 - Annual real GDP 3.32 Percent per annum (2029)
- Agriculture, forestry, and fishing, value added (current LCU), annual 5.18 % change on previous year (2025)
- Agriculture, forestry, and fishing, value added (current LCU), per 348.91 current LCU per US$ of GDP (2025)
- Agriculture, forestry, and fishing, value added (current LCU), per 427,154 current LCU per person (2025)
- Agriculture, forestry, and fishing, value added (constant 2015 US$) 2.92 % change on previous year (2025)
- Agriculture, forestry, and fishing, value added (constant 2015 US$) 0.4555 constant 2015 US$ per US$ of GDP (2025)
- Agriculture, forestry, and fishing, value added (constant 2015 US$) 557.59 constant 2015 US$ per person (2025)
- Agriculture, forestry, and fishing, value added (constant LCU) 2.92 % change on previous year (2025)
- Agriculture, forestry, and fishing, value added (constant LCU), per 209.92 constant LCU per US$ of GDP (2025)
Frequently asked questions
- What is external debt stocks in Nigeria?
- External debt stocks in Nigeria was 60.0% in 2024, according to International Debt Statistics, World Bank (WB).
- What is the highest external debt stocks recorded in Nigeria?
- The highest recorded value was 60.0% in 2024.
- What is the lowest external debt stocks recorded in Nigeria?
- The lowest recorded value was 6.3% in 2008.
- How does Nigeria rank for external debt stocks?
- Nigeria ranks 38th out of 122 countries with data for 2024.
- Is external debt stocks rising or falling in Nigeria?
- Over the last ten years it is up 614.0%. The long-run trend across the full record is volatile.
- Where does this Nigeria data come from?
- The figures come from International Debt Statistics, World Bank (WB), published as part of External debt stocks (% of GNI). Statizoid updates them automatically from the source API.
Download this data
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About this data
Total external debt stocks to gross national income. Total external debt is debt owed to nonresidents repayable in currency, goods, or services. Total external debt is the sum of public, publicly guaranteed, and private nonguaranteed long-term debt, use of IMF credit, and short-term debt. Short-term debt includes all debt having an original maturity of one year or less and interest in arrears on long-term debt. GNI (formerly GNP) is the sum of value added by all resident producers plus any product taxes (less subsidies) not included in the valuation of output plus net receipts of primary income (compensation of employees and property income) from abroad.