# 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.

- **Source date:** 2026-10-18
- **Original source:** [Premium Times](https://www.premiumtimesng.com/business/business-news/918052-finance-ministry-faults-claim-that-fgs-interest-payments-hit-124-of-revenue.html)
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## 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.

[Premium Times](https://www.premiumtimesng.com/business/business-news/918052-finance-ministry-faults-claim-that-fgs-interest-payments-hit-124-of-revenue.html)

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