Public and publicly guaranteed debt service in Nigeria
Nigeria: Public and publicly guaranteed debt service was 6.3% in 2024. ◆ Volatile
Public and publicly guaranteed debt service in Nigeria, 1977–2024
Source: International Debt Statistics, World Bank (WB). Measured in % of exports of goods, services and primary income.
Analysis
The most recent figure for public and publicly guaranteed debt service in Nigeria is 6.3%, measured in 2024.
That represents a change of up 10.5% on the previous year and up 1,952.5% over ten years.
Over the whole period, public and publicly guaranteed debt service in Nigeria peaked at 45.1% in 1995 and was at its lowest, 0.3%, in 2012.
Nigeria ranks 61st of 120 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.
Public and publicly guaranteed debt service in Nigeria, year by year
| Year | % of exports of goods, services and primary income | Change |
|---|---|---|
| 1977 | 0.8% | — |
| 1978 | 0.8% | +7.8% |
| 1979 | 1.4% | +71.1% |
| 1980 | 1.8% | +25.5% |
| 1981 | 4.6% | +155.5% |
| 1982 | 10.9% | +135.8% |
| 1983 | 17.3% | +58.3% |
| 1984 | 24.8% | +43.3% |
| 1985 | 28.3% | +14.3% |
| 1986 | 31.0% | +9.4% |
| 1987 | 11.7% | -62.3% |
| 1988 | 28.2% | +141.8% |
| 1989 | 24.1% | -14.8% |
| 1990 | 22.3% | -7.5% |
| 1991 | 21.4% | -3.9% |
| 1992 | 18.2% | -15.1% |
| 1993 | 12.8% | -29.3% |
| 1994 | 18.3% | +42.7% |
| 1995 | 45.1% | +146.4% |
| 1996 | 40.5% | -10.3% |
| 1997 | 27.5% | -32.2% |
| 1998 | 43.9% | +59.9% |
| 1999 | 6.9% | -84.3% |
| 2000 | 8.2% | +18.1% |
| 2001 | 12.4% | +52.4% |
| 2002 | 7.8% | -37.2% |
| 2003 | 5.9% | -24.2% |
| 2004 | 4.5% | -24.6% |
| 2005 | 15.4% | +245.5% |
| 2006 | 11.0% | -28.8% |
| 2007 | 1.4% | -87.0% |
| 2008 | 0.5% | -66.9% |
| 2009 | 0.7% | +51.9% |
| 2010 | 0.4% | -49.0% |
| 2011 | 0.3% | -7.2% |
| 2012 | 0.3% | -25.6% |
| 2013 | 0.4% | +54.8% |
| 2014 | 0.3% | -21.9% |
| 2015 | 0.8% | +159.5% |
| 2016 | 0.9% | +12.5% |
| 2017 | 0.7% | -26.5% |
| 2018 | 2.1% | +220.3% |
| 2019 | 1.9% | -8.6% |
| 2020 | 3.8% | +95.4% |
| 2021 | 5.0% | +33.4% |
| 2022 | 4.1% | -17.9% |
| 2023 | 5.7% | +38.2% |
| 2024 | 6.3% | +10.5% |
Nigeria compared with similar countries
- Nigeria's 6.3% is below the median for lower middle income countries, which is 6.4%, 99% of the median. (43 countries reporting)
- Nigeria's 6.3% is above the median for Sub-Saharan Africa, which is 5.7%, 1.1× the median. (43 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 1.0% | 0.8% | 1.4% | 3 |
| 1980s | 18.3% | 1.8% | 31.0% | 10 |
| 1990s | 25.7% | 6.9% | 45.1% | 10 |
| 2000s | 6.8% | 0.5% | 15.4% | 10 |
| 2010s | 0.8% | 0.3% | 2.1% | 10 |
| 2020s | 5.0% | 3.8% | 6.3% | 5 |
Countries ranked near Nigeria
- 58 South Africa 6.5% compare
- 59 Comoros 6.4% compare
- 60 Congo 6.3% compare
- 62 North Macedonia 6.0% compare
- 63 Kazakhstan 5.8% compare
- 64 Suriname 5.8% compare
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)
- Net financial flows, IDA (NFL, current US$), per square kilometre 1,640 NFL, current US$ per square kilometre (2023)
Frequently asked questions
- What is public and publicly guaranteed debt service in Nigeria?
- Public and publicly guaranteed debt service in Nigeria was 6.3% in 2024, according to International Debt Statistics, World Bank (WB).
- What is the highest public and publicly guaranteed debt service recorded in Nigeria?
- The highest recorded value was 45.1% in 1995.
- What is the lowest public and publicly guaranteed debt service recorded in Nigeria?
- The lowest recorded value was 0.3% in 2012.
- How does Nigeria rank for public and publicly guaranteed debt service?
- Nigeria ranks 61st out of 120 countries with data for 2024.
- Is public and publicly guaranteed debt service rising or falling in Nigeria?
- Over the last ten years it is up 1,952.5%. 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 Public and publicly guaranteed debt service (% of exports of goods, services and primary income). Statizoid updates them automatically from the source API.
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About this data
Public and publicly guaranteed debt service to exports of goods, services, and income. Public and publicly guaranteed debt service is the sum of principal repayments and interest actually paid in currency, goods, or services on long-term obligations of public debtors and long-term private obligations guaranteed by a public entity. Exports of goods, services and primary income is the sum of goods (merchandise) exports, exports of (nonfactor) services and income (factor) receipts.