Nigeria’s public external debt is projected to rise by $20.7bn by 2027, the country’s election year, according to the International Monetary Fund.
The IMF disclosed this in its 2026 Article IV Consultation report on Nigeria released on Tuesday, projecting that public external debt would increase from $51.9bn in 2025 to $72.6bn by 2027.
The projected increase represents a 39.9 per cent rise within two years and underscores growing concerns over the country’s debt burden despite recent improvements in macroeconomic stability.
The Fund noted that Nigeria’s next presidential election would take place in January 2027 and warned that spending pressures associated with rising poverty, food insecurity and the election cycle could widen fiscal deficits and increase borrowing requirements.
