Nigeria’s external debt service falls to $870.7 million in Q2 2026
Nigeria paid $870.73 million to service its external debt in the second quarter of 2026, with interest payments accounting for more than half of the total. The post Nigeria’s external debt service falls to $870.7 million in Q2 2026 appeared first on Nairametrics .
In Q2 2026, Nigeria's external debt service amounted to $870.73 million, marking a decrease from the $954.06 million spent in the previous quarter. The majority of this cost was due to interest payments, which totaled $491.73 million and constituted 56.5% of the total debt service. Principal repayments accounted for 39.0% of the expenses, while other charges comprised the remaining 4.5%.
The Debt Management Office reported that Nigeria paid $623.22 million in interest for Q1 2026, contributing to the overall figure. Multilateral creditors, including the African Development Fund, International Fund for Agricultural Development, and African Growing Together Fund, received the largest portion of Nigeria's external debt service, amounting to $404.22 million.
Commercial creditors, such as Afrexim Bank and First Abu Dhabi Bank, received $325.70 million and $36.36 million, respectively. Nigeria's total public debt stock reached N166.79 trillion as of June 30, 2026, with external debt accounting for N75.20 trillion, compared to N91.59 trillion in domestic debt.
Written by urgent.news from Nairametrics's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.