Debt service (PPG and IMF only, % of exports of goods, services and) in Nigeria
Nigeria: Debt service (PPG and IMF only, % of exports of goods, services and) was 9.4% in 2024. ◆ Volatile
Debt service (PPG and IMF only, % of exports of goods, services and) in Nigeria, 1999–2024
Source: International Debt Statistics, World Bank (WB).
Analysis
Nigeria recorded 9.4% for debt service (ppg and imf only, % of exports of goods, services and) in 2024.
The figure is up 24.7% on the previous year and up 2,962.4% over ten years.
Over the whole period, debt service (ppg and imf only, % of exports of goods, services and) in Nigeria peaked at 15.4% in 2005 and was at its lowest, 0.3%, in 2012.
Nigeria ranks 43rd of 118 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.
Debt service (PPG and IMF only, % of exports of goods, services and) in Nigeria, year by year
| Year | Value | Change |
|---|---|---|
| 1999 | 7.0% | — |
| 2000 | 8.2% | +17.7% |
| 2001 | 12.5% | +51.8% |
| 2002 | 7.8% | -37.2% |
| 2003 | 5.9% | -24.3% |
| 2004 | 4.5% | -24.6% |
| 2005 | 15.4% | +244.7% |
| 2006 | 11.0% | -28.7% |
| 2007 | 1.4% | -86.9% |
| 2008 | 0.5% | -67.0% |
| 2009 | 0.7% | +53.3% |
| 2010 | 0.4% | -48.3% |
| 2011 | 0.3% | -8.9% |
| 2012 | 0.3% | -26.0% |
| 2013 | 0.4% | +55.6% |
| 2014 | 0.3% | -22.1% |
| 2015 | 0.8% | +159.1% |
| 2016 | 0.9% | +12.8% |
| 2017 | 0.7% | -26.6% |
| 2018 | 2.1% | +219.7% |
| 2019 | 2.0% | -7.2% |
| 2020 | 3.8% | +95.4% |
| 2021 | 5.1% | +33.2% |
| 2022 | 4.3% | -15.6% |
| 2023 | 7.6% | +75.7% |
| 2024 | 9.4% | +24.7% |
Nigeria compared with similar countries
- Nigeria's 9.4% is above the median for lower middle income countries, which is 8.4%, 1.1× the median. (43 countries reporting)
- Nigeria's 9.4% is above the median for Sub-Saharan Africa, which is 8.0%, 1.2× the median. (42 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 7.0% | 7.0% | 7.0% | 1 |
| 2000s | 6.8% | 0.5% | 15.4% | 10 |
| 2010s | 0.8% | 0.3% | 2.1% | 10 |
| 2020s | 6.0% | 3.8% | 9.4% | 5 |
Countries ranked near Nigeria
More external debt data for Nigeria
- IFC, private nonguaranteed 102.35 million NFL, US$ (2024)
- IFC, private nonguaranteed (NFL, US$), per capita 0.4399 NFL, US$ per person (2024)
- IFC, private nonguaranteed (NFL, US$), per unit of GDP 0.0004 NFL, US$ per US$ of GDP (2024)
- IFC, private nonguaranteed (NFL, US$), per square kilometre 56.33 NFL, US$ per square kilometre (2023)
- Public and publicly guaranteed debt service 1.6% (2024)
- Net financial flows, IDA 1.92 billion NFL, current US$ (2024)
- Net financial flows, IDA (NFL, current US$), per capita 8.24 NFL, current US$ per person (2024)
- Net financial flows, IDA (NFL, current US$), per unit of GDP 0.0076 NFL, current US$ per US$ of GDP (2024)
- Net financial flows, IBRD 758.21 million NFL, current US$ (2024)
- Public and publicly guaranteed debt service 6.3% (2024)
Frequently asked questions
- What is debt service (ppg and imf only, % of exports of goods, services and) in Nigeria?
- Debt service (ppg and imf only, % of exports of goods, services and) in Nigeria was 9.4% in 2024, according to International Debt Statistics, World Bank (WB).
- What is the highest debt service (ppg and imf only, % of exports of goods, services and) recorded in Nigeria?
- The highest recorded value was 15.4% in 2005.
- What is the lowest debt service (ppg and imf only, % of exports of goods, services and) recorded in Nigeria?
- The lowest recorded value was 0.3% in 2012.
- How does Nigeria rank for debt service (ppg and imf only, % of exports of goods, services and)?
- Nigeria ranks 43rd out of 118 countries with data for 2024.
- Is debt service (ppg and imf only, % of exports of goods, services and) rising or falling in Nigeria?
- Over the last ten years it is up 2,962.4%. 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 Debt service (PPG and IMF only, % of exports of goods, services and primary income). Statizoid updates them automatically from the source API.
Download this data
CSV · JSON — 26 observations, free to reuse under CC BY 4.0 (World Bank Open Data).
About this data
Debt service, the sum of principal repayments and interest actually paid in currency, goods, or services, is expressed as a percentage of exports of goods and services--all transactions between residents of a country and the rest of the world involving a change of ownership from residents to nonresidents of general merchandise, net exports of goods under merchanting, nonmonetary gold, and services. This series differs from the standard debt to exports series in that it covers only long-term public and publicly guaranteed debt and repayments (repurchases and charges) to the IMF.