Nigeria’s External Debt Servicing Rises by 38%, Hits $3.53 Billion in First Nine Months of 2024

A month-by-month analysis highlighted the scale of the challenge and showed that in January 2024 Nigeria spent $560.52 million on external debt servicing, marking a sharp increase from $112.35 million in January 2023. February 2024 followed with $283.22 million, slightly below the $288.54 million recorded the previous year.