By Gwurld4026 
DMO Reports Nigeria’s Debt Service Reaches $1.08 Billion
In the fourth quarter of 2024, Nigeria’s external debt service obligations surged to $1.08 billion, marking a significant increase from the previous quarter. The breakdown of these payments is as follows:
- Multilateral Creditors: $600.71 million (55.7% of total debt service)
- International Monetary Fund (IMF): $407.97 million
- International Development Association (IDA): $116.48 million
- African Development Bank (AfDB): $43.89 million
- International Bank for Reconstruction and Development (IBRD): $14.48 million
- Islamic Development Bank (IsDB): $5.83 million
- Commercial Creditors: $430.53 million (39.9% of total debt service)
- Eurobond debt: $148.57 million
- Syndicated Loans: $280.16 million
- Other commercial payments: $1.69 million
- Bilateral Creditors: $46.85 million (4.3% of total debt service)
- France’s Agence Française de Développement (AFD): $33.13 million
- Germany’s KfW: $11.84 million
- China Development Bank: $1.88 million
Notably, there were no debt service payments to Japan, China Exim Bank, or India Exim Bank during this period. These payments highlight the substantial financial commitments Nigeria faces in servicing its external debts, with significant contributions to multilateral and commercial creditors.