{
  "id": 15522636,
  "title": "FG disputes World Bank’s N7.7tn interest payments",
  "url": "https://urgent.news/2026/10/19/fg-disputes-world-banks-n7-7tn-interest-payments-15522636",
  "topic": "world",
  "section": "World",
  "published": "2026-10-19T00:26:32.000Z",
  "source": {
    "name": "Punch",
    "slug": "punch",
    "url": "https://punchng.com/fg-disputes-world-banks-n7-7tn-interest-payments/"
  },
  "original_language": "en",
  "account": "The Federal Government has disputed the World Bank's claim that Nigeria's interest payments for the first half of 2026 reached 124% of revenue, arguing the figure is misleading. The Federal Ministry of Finance stated that the calculation relied on incomplete revenue data and included debt obligations paid on behalf of state governments. They noted that Nigeria's fiscal position had improved, with revenue growing faster than interest payments. The ministry dismissed the World Bank's assessment, pointing out that the calculation compared obligations across tiers of government with revenue attributed to the federal government alone. They also pointed out that the revenue figure did not account for income from government agencies and enterprises not yet remitted to the Treasury. The ministry clarified that the interest-to-revenue ratio for the same period in 2025 was 156%, up from approximately 124% in 2026. They emphasized that the full-year debt-service-to-revenue ratio had fallen below 60%, down from 97% before the current administration's reforms, indicating improved fiscal management. The ministry further stated that the interest-to-revenue ratio had declined by about 32 percentage points, with the gap between interest payments and revenue narrowing from N2tn to N1.5tn. They rejected the use of a six-month fiscal snapshot as a definitive measure of debt sustainability, arguing that full-year projections were more appropriate. Despite questioning the World Bank's assessment, the ministry did not provide revised figures or an alternative ratio. The World Bank loan of $1.25bn to Nigeria, aimed at supporting reforms to stimulate growth and create jobs, will begin repayment of the principal in December 2031, with the final instalment due in June 2060.",
  "summary": "The Federal Government has faulted the World Bank’s assessment of Nigeria’s debt position, dismissing concerns that interest payments of N7.7tn in the first half of 2026 threaten the country’s debt sustainability. The Federal Ministry of Finance described reports that interest payments amounted to 124 per cent of Federal Government revenue during the period as misleading, Read More:…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 4,
    "also_reported_by": [
      {
        "outlet": "MyJoyOnline Ghana",
        "title": "IMF/ World Bank signs agreement with UAE over holding 2029 Annual Meetings in Abu Dhabi",
        "url": "https://urgent.news/2026/10/18/imf-world-bank-signs-agreement-with-uae-over-holding-2029-annual",
        "published": "2026-10-18T19:27:59.000Z"
      },
      {
        "outlet": "Bangkok Post",
        "title": "World Bank loans $200m",
        "url": "https://urgent.news/2026/10/18/world-bank-loans-200m",
        "published": "2026-10-18T21:02:00.000Z"
      },
      {
        "outlet": "Punch Nigeria",
        "title": "FG disputes World Bank’s N7.7tn interest payments",
        "url": "https://urgent.news/2026/10/19/fg-disputes-world-banks-n7-7tn-interest-payments",
        "published": "2026-10-19T00:00:32.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}