Government gross debt in Nigeria

International Monetary Fund · Annual · Importance

IMF forecast (WEO): 2026: 34.6% 2027: 32.8% 2028: 32.9% 2029: 32.5% 2030: 32.2% 2031: 31.9%

46.1 (1999) ANUAL · % of GDP · Annual · CSV

Period	% of GDP
Jan 1999	46.1
Jan 1998	15.8
Jan 1997	17.1
Jan 1996	17.9
Jan 1995	24.2
Jan 1994	39.7
Jan 1993	50.4
Jan 1992	49.8
Jan 1991	53.2
Jan 1990	50.9

About this indicator

Source

International Monetary Fund

Frequency

Annual

Release

Published annually (with quarterly advance estimates in some economies), subject to revision with the national accounts.

What it is

Government gross debt measures the total outstanding liabilities of Nigeria's general government to its creditors. It is usually expressed as a share of GDP to gauge sustainability.

How it's calculated

It is compiled by adding the gross liabilities of general government (debt securities, loans and other liabilities). The reference figure comes from the IMF World Economic Outlook, is annual and is expressed as a percentage of GDP and in absolute naira terms.

Market implications

Although Nigeria's debt ratio looks contained, the burden of interest payments on a low revenue base is its real weak spot and hinges on oil prices. Markets and rating agencies watch debt-servicing costs and the pressure on the naira.

Limitations

It is a low-frequency figure of limited quality and subject to revision. The debt-to-GDP ratio can be misleading when revenue is low, and on its own it captures neither the interest burden nor foreign-currency exposure.