Finance ministry disputes interpretation of Nigeria’s 124% interest-to-revenue ratio
Nigeria’s finance ministry said the reported 124% ratio mixes federal debt service for other tiers of government with an incomplete federal revenue figure.
- Publish date: 2026-10-18
- Category: Standards & Policy
- Original source: Premium Times
- Reading time: 1 min read
Finance ministry disputes interpretation of Nigeria’s 124% interest-to-revenue ratio
Nigeria’s finance ministry said the reported 124% ratio mixes federal debt service for other tiers of government with an incomplete federal revenue figure.
The ministry said federal revenue rose 72% year on year to ₦6.2 trillion in H1 2026, while interest payments rose 38% to ₦7.7 trillion. It argued that full-year measures are more appropriate for assessing debt sustainability and cited a projected 46% debt-service-to-revenue ratio for 2026.