Why Nigeria’s 124% debt interest-to-revenue ratio under Tinubu is misleading - Finance Ministry

The Federal Ministry of Finance has defended the Federal Government against claims that interest payments on its debt reached 124 per cent of revenue in the first half of 2026, describing the interpretation as misleading. The ministry made a clarification in a statement published on the official X account of the Minister of Finance, Taiwo Oyedele, on Sunday. Recall that that there are reports that the Nigerian government’s interest payments on its debt exceeded 124 per cent of its revenue in the first half of 2026, citing the World Bank’s October 2026 Nigeria Development Update. Reacting, the ministry said the calculation failed to account for differences in the scope of debt obligations ...