Nigeria spent $2.86 billion servicing external debt between January and August 2025, according to new data released by the Central Bank of Nigeria (CBN).
Lens News reports that the figure represents nearly 70 percent of total foreign exchange outflows recorded within the same period, highlighting the growing weight of debt repayments on the economy.
The CBN bulletin showed that debt servicing costs have continued to rise, limiting funds available for imports, capital projects, and other foreign obligations.
Economists warn that the trend could place further strain on Nigeria’s external reserves and currency stability if fresh revenue sources are not secured.
