Nigeria’s Eurobond obligations have consumed nearly $3 billion since President Bola Tinubu assumed office, with a striking 83% of the total amount directed toward interest payments, according to new financial disclosures.
The latest figures underscore the rising burden of commercial debt on the nation’s finances, as Eurobonds — known for their high interest rates — continue to strain federal revenue. Analysts warn that the heavy reliance on such instruments poses long-term fiscal risks, especially as debt servicing commitments grow faster than government income.
Economists are calling for a shift toward more sustainable borrowing frameworks, including concessional loans with lower interest rates, to ease mounting pressure on the budget.
Daily Frontier is committed to being a trusted source of accurate and timely news, offering in-depth coverage of current affairs, emerging trends, and critical issues shaping today’s world
