Nigeria's Debt Servicing Costs Drop in Q2 But Total Debt Continues to Rise

Nigeria's debt servicing spending slowed to N849.58bn in Q2 2023, a 43% decrease from Q1.
In the first half of 2023, Nigeria spent a total of N2.34tn on servicing debt.
Despite the decrease in debt servicing costs, Nigeria's total public debt hit N87.38tn at end of June 2023.
Domestic debt rose 79.18% while external debt rose 69.28% in Q1 to Q2 2023.
The IMF said Nigeria is projected to spend 82% of revenue on interest payments in 2023.

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Posted 9/16/2023, 6:23:47 AM