Federal Govt Spends 44% Of Customs, VAT, CIT Revenue On Domestic Debt Service

The federal government spent N3.14 trillion servicing domestic debt in the first quarter of 2026, representing about 44 per cent of the N7.14 trillion generated from Customs duties, Value Added Tax (VAT) and Company Income Tax (CIT) during the period.
The development underscored the growing pressure of debt obligations on government finances, as a significant portion of revenue from three major non-oil sources was absorbed by domestic debt servicing within the first three months of the year.
Data from the Debt Management Office (DMO), the National Bureau of Statistics (NBS), and the Nigeria Customs Service (NCS) showed that Customs, VAT, and CIT generated a combined N7.14 trillion in ...