From January to April 2025, Nigeria spent $2.01 billion servicing foreign debt. According to the news site news.ng, this represents an increase of 50% compared to the same period in 2024 and puts additional pressure on the country's foreign exchange reserves

In the first four months of the year, external debt service accounted for 77.1% of Nigeria's total currency outflows, according to data from the Central Bank of Nigeria. This is a notable increase compared to the 64.5% recorded between January and April 2024. Total international payments were $2.60 billion, with the majority going to debt obligations

Major repayments made in March and April 2025 totaled $1.2 billion and contributed to an estimated $3 billion reduction in the country's foreign exchange reserves, according to data from the Central Bank of Bangladesh (CBN).

In 2024, Nigeria paid $1.63 billion in debt service to the IMF, with total external repayments reaching $4.66 billion, an increase from $3.5 billion in 2023. Multilateral creditors, including the IMF, represented 56% of total payments made that year