Short-term debt in Nigeria
Nigeria: Short-term debt was 55.0% in 2024. ◆ Volatile
Latest (2024)
55.0%
Change on year
up 0.6%
World rank
27th
of 111 countries
All-time high
404.1%
in 1983
All-time low
8.2%
in 1976
Years of data
55
1970–2024
Short-term debt in Nigeria, 1970–2024
Source: World Development Indicators, World Bank (WB). Measured in % of total reserves.
Analysis
Nigeria recorded 55.0% for short-term debt in 2024.
Compared with earlier readings it is up 0.6% on the previous year and up 52.6% over ten years.
Over the whole period, short-term debt in Nigeria peaked at 404.1% in 1983 and was at its lowest, 8.2%, in 1976.
That places Nigeria 27th out of 111 countries with data for 2024, putting it in the top quarter.
The series is highly variable year to year, so single readings are best treated with caution.
Short-term debt in Nigeria, year by year
| Year | % of total reserves | Change |
|---|---|---|
| 1970 | 120.6% | — |
| 1971 | 71.6% | -40.6% |
| 1972 | 89.6% | +25.1% |
| 1973 | 92.2% | +2.9% |
| 1974 | 10.6% | -88.5% |
| 1975 | 9.6% | -9.7% |
| 1976 | 8.2% | -14.5% |
| 1977 | 49.8% | +507.1% |
| 1978 | 120.6% | +141.9% |
| 1979 | 38.7% | -67.9% |
| 1980 | 33.4% | -13.7% |
| 1981 | 106.2% | +218.0% |
| 1982 | 131.6% | +23.9% |
| 1983 | 404.1% | +207.1% |
| 1984 | 343.1% | -15.1% |
| 1985 | 264.0% | -23.1% |
| 1986 | 272.7% | +3.3% |
| 1987 | 104.7% | -61.6% |
| 1988 | 165.9% | +58.4% |
| 1989 | 22.8% | -86.3% |
| 1990 | 36.4% | +59.9% |
| 1991 | 18.4% | -49.6% |
| 1992 | 184.7% | +906.5% |
| 1993 | 241.2% | +30.6% |
| 1994 | 292.7% | +21.3% |
| 1995 | 330.7% | +13.0% |
| 1996 | 131.1% | -60.3% |
| 1997 | 71.1% | -45.8% |
| 1998 | 89.9% | +26.6% |
| 1999 | 110.6% | +22.9% |
| 2000 | 11.1% | -90.0% |
| 2001 | 15.4% | +39.1% |
| 2002 | 30.0% | +94.4% |
| 2003 | 45.2% | +50.6% |
| 2004 | 30.4% | -32.7% |
| 2005 | 19.3% | -36.7% |
| 2006 | 13.1% | -31.8% |
| 2007 | 12.5% | -5.2% |
| 2008 | 11.5% | -7.3% |
| 2009 | 13.4% | +16.0% |
| 2010 | 28.3% | +111.6% |
| 2011 | 33.8% | +19.1% |
| 2012 | 34.5% | +2.2% |
| 2013 | 35.1% | +1.8% |
| 2014 | 36.0% | +2.6% |
| 2015 | 30.5% | -15.4% |
| 2016 | 23.3% | -23.6% |
| 2017 | 43.1% | +85.2% |
| 2018 | 31.6% | -26.8% |
| 2019 | 53.0% | +67.8% |
| 2020 | 48.4% | -8.5% |
| 2021 | 44.5% | -8.1% |
| 2022 | 58.4% | +31.2% |
| 2023 | 54.7% | -6.4% |
| 2024 | 55.0% | +0.6% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 61.2% | 8.2% | 120.6% | 10 |
| 1980s | 184.8% | 22.8% | 404.1% | 10 |
| 1990s | 150.7% | 18.4% | 330.7% | 10 |
| 2000s | 20.2% | 11.1% | 45.2% | 10 |
| 2010s | 34.9% | 23.3% | 53.0% | 10 |
| 2020s | 52.2% | 44.5% | 58.4% | 5 |
Countries ranked near Nigeria
- 24 Ghana 58.6% compare
- 25 Lebanon 57.2% compare
- 26 Tanzania, United Republic of 56.1% compare
- 28 Pakistan 52.2% compare
- 29 Lao People's Democratic Republic 49.6% compare
- 30 Cape Verde 49.6% 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)
- Manufacturing, value added (constant LCU), per capita 75,054 constant LCU per person (2025)
- Industry (including construction), value added (current US$), annual 4.17 % change on previous year (2025)
- Industry (including construction), value added (current US$), per 0.1644 current US$ per US$ of GDP (2025)
- Industry (including construction), value added (current US$), per 201.31 current US$ per person (2025)
- Industry (including construction), value added (current LCU), annual 7.02 % change on previous year (2025)
- Industry (including construction), value added (current LCU), per 249.67 current LCU per US$ of GDP (2025)
- Industry (including construction), value added (current LCU), per 305,664 current LCU per person (2025)
- Industry (including construction), value added (constant 2015 US$) 4.57 % change on previous year (2025)
Frequently asked questions
- What is short-term debt in Nigeria?
- Short-term debt in Nigeria was 55.0% in 2024, according to World Development Indicators, World Bank (WB).
- What is the highest short-term debt recorded in Nigeria?
- The highest recorded value was 404.1% in 1983.
- What is the lowest short-term debt recorded in Nigeria?
- The lowest recorded value was 8.2% in 1976.
- How does Nigeria rank for short-term debt?
- Nigeria ranks 27th out of 111 countries with data for 2024.
- Is short-term debt rising or falling in Nigeria?
- Over the last ten years it is up 52.6%. The long-run trend across the full record is volatile.
- Where does this Nigeria data come from?
- The figures come from World Development Indicators, World Bank (WB), published as part of Short-term debt (% of total reserves). Statizoid updates them automatically from the source API.
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About this data
Short-term debt includes all debt having an original maturity of one year or less and interest in arrears on long-term debt. Total reserves includes gold.