Gross external debt, Percent of GDP (Balance of Payments) … BPM6 in Nigeria
Nigeria: Gross external debt, Percent of GDP (Balance of Payments) … BPM6 was 16.85 in 2027. ◆ Volatile
Gross external debt, Percent of GDP (Balance of Payments and) in Nigeria, 2000–2027
Source: International Monetary Fund.
Analysis
The most recent figure for gross external debt, percent of gdp (balance of payments and) in Nigeria is 16.85, measured in 2027.
That represents a change of up 6.9% on the previous year and up 287.6% over ten years.
Over the whole period, gross external debt, percent of gdp (balance of payments and) in Nigeria peaked at 31.66 in 2000 and was at its lowest, 0.8692, in 2010.
That places Nigeria 38th out of 45 countries with data for 2027, putting it in the bottom quarter.
The series is highly variable year to year, so single readings are best treated with caution.
Gross external debt, Percent of GDP (Balance of Payments) … BPM6 in Nigeria, year by year
| Year | Value | Change |
|---|---|---|
| 2000 | 31.66 | — |
| 2001 | 28.83 | -8.9% |
| 2002 | 23.42 | -18.8% |
| 2003 | 22.71 | -3.0% |
| 2004 | 19.58 | -13.8% |
| 2005 | 14.01 | -28.5% |
| 2006 | 2.59 | -81.5% |
| 2007 | 2.31 | -10.7% |
| 2008 | 2.12 | -8.4% |
| 2009 | 2.42 | +14.1% |
| 2010 | 0.8692 | -64.0% |
| 2011 | 0.8737 | +0.5% |
| 2012 | 0.9922 | +13.6% |
| 2013 | 1.59 | +60.5% |
| 2014 | 1.61 | +1.0% |
| 2015 | 2.03 | +26.1% |
| 2016 | 2.62 | +29.4% |
| 2017 | 4.35 | +65.6% |
| 2018 | 5.22 | +20.0% |
| 2019 | 5.11 | -2.1% |
| 2020 | 6.37 | +24.7% |
| 2021 | 7.08 | +11.2% |
| 2022 | 7.15 | +0.9% |
| 2023 | 9.67 | +35.2% |
| 2024 | 18.27 | +89.0% |
| 2025 | 17.84 | -2.4% |
| 2026 | 15.76 | -11.6% |
| 2027 | 16.85 | +6.9% |
Nigeria compared with similar countries
- Nigeria's 16.85 is below the median for Sub-Saharan Africa, which is 26.53, 64% of the median. (45 countries reporting)
- Nigeria's 16.85 is below the median for lower middle income countries, which is 30.44, 55% of the median. (19 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2000s | 14.96 | 2.12 | 31.66 | 10 |
| 2010s | 2.53 | 0.8692 | 5.22 | 10 |
| 2020s | 12.37 | 6.37 | 18.27 | 8 |
Countries ranked near Nigeria
More external debt data for Nigeria
- Net financial flows, IBRD 141.84 million NFL, current US$ (2025)
- 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)
- 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, IDA (NFL, current US$), per square kilometre 1,640 NFL, current US$ per square kilometre (2023)
- Use of IMF credit 5.52 billion DOD, current US$ (2025)
- External debt stocks, public and publicly guaranteed (PPG) 56.88 billion DOD, current US$ (2025)
- External debt stocks, long-term 111.36 billion DOD, current US$ (2025)
Frequently asked questions
- What is gross external debt, percent of gdp (balance of payments and) in Nigeria?
- Gross external debt, percent of gdp (balance of payments and) in Nigeria was 16.85 in 2027, according to International Monetary Fund.
- What is the highest gross external debt, percent of gdp (balance of payments and) recorded in Nigeria?
- The highest recorded value was 31.66 in 2000.
- What is the lowest gross external debt, percent of gdp (balance of payments and) recorded in Nigeria?
- The lowest recorded value was 0.8692 in 2010.
- How does Nigeria rank for gross external debt, percent of gdp (balance of payments and)?
- Nigeria ranks 38th out of 45 countries with data for 2027.
- Is gross external debt, percent of gdp (balance of payments and) rising or falling in Nigeria?
- Over the last ten years it is up 287.6%. The long-run trend across the full record is volatile.
- Where does this Nigeria data come from?
- The figures come from International Monetary Fund, published as part of Gross external debt, Percent of GDP (Balance of Payments and International Investment Position Manual, Sixth Edition (BPM6)). Statizoid updates them automatically from the source API.
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About this data
Sub-Saharan Africa Regional Economic Outlook (REO) provides information on recent economic developments and prospects for countries in sub-Saharan Africa. Data for the REO for sub-Saharan Africa are prepared in conjunction with the semi-annual World Economic Outlook (WEO) exercises, spring and fall.