Nigeria Government Debt to GDP
General government gross debt as % of GDP GGXWDG_NGDP
Nigeria's government debt to gdp was 36.38% in 2025, ranked 137th globally. This represents a 7.5% decrease from 2024. Data from IMF WEO, covering 1990–2025.
Overview
Nigeria's government debt to gdp stood at 36.38% in 2025, a decline of +2.95% from 2024. The IMF projects 36.38% by 2025. Nigeria ranked 137th globally.
Nigeria’s government debt-to‑GDP ratio has fallen sharply from a peak of 53.23 % in 1991 to a historic trough of 5.17 % in 2008, before climbing again to 36.38 % in 2025, placing the country 137th globally. The long‑term decline reflects fiscal consolidation during the early 2000s, while the recent rise mirrors higher borrowing to fund infrastructure and social programmes amid volatile oil revenues. Over the 36‑year series, Nigeria’s ratio now sits close to peers such as Belarus at 35.78 % and Switzerland at 36.88 %, indicating a convergence with middle‑income economies that maintain moderate debt loads. The upward movement since the 2008 trough suggests a gradual re‑accumulation of debt, but the current level remains well below the 1990 figure of 50.90 %. Continued fiscal discipline, diversification away from oil, and improved revenue mobilisation could stabilise the ratio, while any resurgence of commodity price shocks or fiscal slippage would likely push the trajectory higher.
Data & projection
| Year | Government Debt to GDP | YoY change | Rank |
|---|---|---|---|
| 2030* IMF | 33.76% | - | - |
| 2029* IMF | 34.08% | - | - |
| 2028* IMF | 34.42% | - | - |
| 2027* IMF | 35.27% | - | - |
| 2026* IMF | 35.03% | - | - |
| 2025* IMF | 36.38% | - | - |
| 2025 | 36.38% | −2.95% | #137 |
| 2024 | 39.33% | +3.00% | #54 |
| 2023 | 36.34% | +6.50% | #44 |
| 2022 | 29.84% | +3.21% | #30 |
| 2021 | 26.62% | +0.90% | #25 |
| 2020 | 25.72% | +4.28% | #23 |
| 2019 | 21.44% | +1.06% | #21 |
| 2018 | 20.38% | +2.37% | #20 |
| 2017 | 18.01% | +0.63% | #12 |
| 2016 | 17.38% | +2.45% | #14 |
| 2015 | 14.93% | +2.04% | #15 |
| 2014 | 12.89% | −0.09% | #18 |
| 2013 | 12.99% | +0.51% | #21 |
| 2012 | 12.48% | +0.10% | #21 |
| 2011 | 12.38% | +5.71% | #19 |
Detected Pattern
Analysis
Nigeria matched the Export Boom Cycle pattern in 2024. Historically, 71% of countries showing this pattern (546 out of 768) saw government debt to gdp improve within 24 months. View full analysis →
Frequently Asked Questions
Nigeria's government debt to gdp was 36.38% in 2025. Ranked 137th globally. This represents a 7.5% decrease from the previous year.
Nigeria's government debt to gdp peaked at 53.23% in 1991.
The lowest government debt to gdp in Nigeria was 5.17% in 2008.
Nigeria ranks 137th globally in government debt to gdp as of 2025.
The World Bank indicator code is GGXWDG_NGDP. Data sourced from IMF WEO.
Nigeria's government debt to gdp is projected to reach 36.38% by 2025 based on IMF projection.
The government debt to gdp of Nigeria in 2025 was 36.38%. This ranks 137th in the world.
Cite this page
@misc{historysaid_nigeria_government-debt-to-gdp,
title = {Nigeria Government Debt to GDP},
url = {https://historysaid.com/nigeria/government-debt-to-gdp/},
publisher = {HistorySaid},
year = {2026}
}