Nigeria External Debt
Total external debt stocks DT.DOD.DECT.CD
Nigeria's external debt was $114.2B in 2025, ranked 19th globally. This represents a 5.0% increase from 2024. Data from World Bank, covering 1970–2025.
Overview
Nigeria's external debt stood at $114.2B in 2025, a rise of +$5.4B from 2024. Based on recent trends, this figure is projected to reach $114.2B by 2025. Nigeria ranked 19th globally.
Nigeria’s external debt has risen dramatically over the 56‑year span from the 1970 trough of 836,680,592.10 to a 2025 level of 114,193,355,227.06, placing the country 19th globally. The debt trajectory shows a steep, almost exponential increase, particularly after the early 2000s when commodity price volatility and fiscal deficits prompted heavier borrowing. By contrast, peer economies such as Bangladesh (US$115,095,679,095.23) and Peru (US$101,111,396,549.88) have experienced similar upward pressure, but Nigeria’s debt‑to‑GDP ratio remains higher, reflecting weaker external balances and limited diversification beyond oil. The all‑time peak recorded in 2025 coincides with a period of heightened external financing to fund infrastructure and social programmes, while the 1970 trough underscores how the country’s borrowing profile has transformed from modest, short‑term obligations to large‑scale, long‑term liabilities. Continued fiscal consolidation, improved export diversification, and stronger debt‑service capacity will be crucial to moderating the upward trend and averting a debt sustainability breach.
Data & projection
| Year | External Debt | YoY change | Rank |
|---|---|---|---|
| 2027* trend | $123.9B | - | - |
| 2026* trend | $119.0B | - | - |
| 2025* trend | $114.2B | - | - |
| 2025 | $114.2B | +$5.4B | #19 |
| 2024 | $108.8B | +$6.3B | #101 |
| 2023 | $102.5B | −$591.5M | #102 |
| 2022 | $103.1B | +$6.8B | #103 |
| 2021 | $96.3B | +$8.7B | #103 |
| 2020 | $87.6B | +$6.2B | #103 |
| 2019 | $81.3B | +$11.9B | #103 |
| 2018 | $69.4B | +$4.3B | #102 |
| 2017 | $65.1B | +$21.4B | #101 |
| 2016 | $43.7B | −$1.3B | #98 |
| 2015 | $45.0B | −$1.6B | #100 |
| 2014 | $46.7B | +$4.1B | #99 |
| 2013 | $42.6B | +$3.3B | #97 |
| 2012 | $39.3B | +$5.2B | #98 |
| 2011 | $34.1B | +$5.0B | #96 |
Detected Pattern
Analysis
Nigeria matched the Export Boom Cycle pattern in 2024. Historically, 71% of countries showing this pattern (546 out of 768) saw external debt improve within 24 months. View full analysis →
Frequently Asked Questions
Nigeria's external debt was $114.2B in 2025. Ranked 19th globally. This represents a 5.0% increase from the previous year.
Nigeria's external debt peaked at $114.2B in 2025.
The lowest external debt in Nigeria was $836.7M in 1970.
Nigeria ranks 19th globally in external debt as of 2025.
The World Bank indicator code is DT.DOD.DECT.CD. Data sourced from World Bank.
Nigeria's external debt is projected to reach $114.2B by 2025 based on trend extrapolation.
Nigeria's external debt was approximately 114.19 billion ($114.2B) in 2025.
The external debt of Nigeria in 2025 was $114.2B. This ranks 19th in the world.
Cite this page
@misc{historysaid_nigeria_external-debt,
title = {Nigeria External Debt},
url = {https://historysaid.com/nigeria/external-debt/},
publisher = {HistorySaid},
year = {2026}
}