Nigeria's External Debt Service Declines to $954 Million in Q1 2026

Nigeria's external debt service payments decreased by 31.5% to $954.06 million in the first quarter of 2026, down from $1.39 billion in the same period of 2025. This decline was primarily due to a significantly lower principal repayment burden in Q1 2026 ($308.33 million) compared to Q1 2025 ($759.58 million). Interest payments accounted for $623.22 million, with other charges at $22.50 million. Despite the decline in external debt service, Nigeria's total public debt rose to N159.35 trillion as of March 31, 2026, driven by increased domestic borrowing.