Total debt service in Nigeria
Nigeria: Total debt service was 5.5% in 2024. ◆ Volatile
Total debt service in Nigeria, 2008–2024
Source: International Debt Statistics, World Bank (WB). Measured in % of GNI.
Analysis
Nigeria recorded 5.5% for total debt service in 2024. That is the highest value across all 17 years on record.
The figure is up 169.4% on the previous year and up 1,180.1% over ten years.
Over the whole period, total debt service in Nigeria peaked at 5.5% in 2024 and was at its lowest, 0.2%, in 2010.
Nigeria ranks 46th 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.
Total debt service in Nigeria, year by year
| Year | % of GNI | Change |
|---|---|---|
| 2008 | 0.2% | — |
| 2009 | 0.2% | -6.8% |
| 2010 | 0.2% | -25.3% |
| 2011 | 0.2% | +3.5% |
| 2012 | 0.2% | +7.4% |
| 2013 | 0.2% | +10.6% |
| 2014 | 0.4% | +100.8% |
| 2015 | 0.5% | +16.8% |
| 2016 | 1.3% | +156.3% |
| 2017 | 1.1% | -17.4% |
| 2018 | 1.4% | +33.1% |
| 2019 | 1.0% | -27.8% |
| 2020 | 0.9% | -9.4% |
| 2021 | 1.3% | +44.6% |
| 2022 | 1.3% | +0.8% |
| 2023 | 2.0% | +51.4% |
| 2024 | 5.5% | +169.4% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2000s | 0.2% | 0.2% | 0.2% | 2 |
| 2010s | 0.6% | 0.2% | 1.4% | 10 |
| 2020s | 2.2% | 0.9% | 5.5% | 5 |
Countries ranked near Nigeria
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 total debt service in Nigeria?
- Total debt service in Nigeria was 5.5% in 2024, according to International Debt Statistics, World Bank (WB).
- What is the highest total debt service recorded in Nigeria?
- The highest recorded value was 5.5% in 2024.
- What is the lowest total debt service recorded in Nigeria?
- The lowest recorded value was 0.2% in 2010.
- How does Nigeria rank for total debt service?
- Nigeria ranks 46th out of 122 countries with data for 2024.
- Is total debt service rising or falling in Nigeria?
- Over the last ten years it is up 1,180.1%. 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 Total debt service (% of GNI). Statizoid updates them automatically from the source API.
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About this data
Total debt service is the sum of principal repayments and interest actually paid in currency, goods, or services on long-term debt, interest paid on short-term debt, and repayments (repurchases and charges) to the IMF.