Nigeria’s public external debt could rise by $20.7 billion by 2027, according to the International Monetary Fund’s latest Article IV Consultation Report.
The IMF projects that external debt will increase from $51.9 billion in 2025 to $72.6 billion by 2027, largely due to rising financing needs and spending pressures ahead of the general election.
The Fund warned that poverty, food insecurity and election-related expenditures could widen fiscal deficits and increase borrowing requirements.
Despite the projected increase, the IMF maintained that Nigeria’s debt remains manageable and forecast economic growth of 4.1 per cent in 2026 and 4.3 per cent in 2027.
The organisation also urged the government to strengthen revenue generation and maintain fiscal discipline to preserve debt sustainability.
