Nigeria's Debt Servicing Rose By 14.68% in 2022  

The Debt Management Office says Nigeria’s debt servicing bill went up by 14.68 per cent to N3.36trn in 2022. The DMO says N2.93tn was spent on external and domestic debt servicing payments in 2021. <br />An analysis of DMO showed that the country spent $2.4bn which was equivalent to N1.07 trillion using the current exchange rate of $/N460 to service its external debt last year. <br />Domestic debt servicing gulped N2.56tn in 2022, with the highest expenditures of N529.88 billion recorded in April.