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AfDB: Nigeria, Ghana spend more on external debt interest payment than public health

Nigeria and Ghana are among the West African economies where debt-interest payments rival or exceed public health spending, highlighting the growing pressure debt servicing is placing on government…

  • Nigeria and Ghana spend more on external debt interest than public health.
  • External debt service share of GDP increased from 23.7% in 2017 to 31% in 2024.
  • Debt servicing hampers fiscal space for healthcare, infrastructure, and development.