Nigeria’s Debt Interest Bill Hit ₦7.7tn in H1 2026, Exceeding Federal Revenue

The World Bank says Nigeria spent ₦7.7 trillion on debt interest in the first half of 2026, a 37.5% increase from ₦5.6 trillion in the same period last year. The amount was equivalent to 124.19% of federal government revenue, meaning about ₦124 went to interest payments for every ₦100 collected. Federal revenue rose 72% to ₦6.2 trillion, supported by stronger oil earnings and company tax receipts. However, capital spending fell to ₦700 billion, or 0.3% of GDP, down from 1.0% a year earlier. In other developments, the UNDP estimates that 17.9 million more Nigerians were living in multidimensional poverty in 2024 than in 2021. Lawyers representing Isa Pantami have asked INEC to publish his name as the PDP governorship candidate in Gombe, while Lagos e-hailing drivers have begun an indefinite strike over earnings and working conditions.

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