Nigeria's multilateral debt service (% of public and publicly guaranteed debt service) was 32.54% in 2024, the latest year in the World Bank's World Development Indicators. That is down 23.51 percentage points from 56.05% in 2014.
Key figures
| Value | Year | |
|---|---|---|
| Latest | 32.54% | 2024 |
| Five years earlier | 25.51% | 2019 |
| Ten years earlier | 56.05% | 2014 |
| Highest | 83.53% | 2008 |
| Lowest | 3.4% | 1985 |
| Average since 2015 | 33.53% | 2015–2024 |
| First recorded | 23.65% | 1970 |
What the numbers say
In 2024, Nigeria's multilateral debt service (% of public and publicly guaranteed debt service) rose 8.54 percentage points on 2023 (from 24% to 32.54%).
Across the 30 yearly changes before that (1994 to 2023), the average change was −0.7 percentage points and a typical year strayed about 18.39 percentage points from that (the standard deviation). This year's change was 0.5 standard deviations above that average, so it was an ordinary year: it sits within the range of normal year-to-year movement.
On record, the biggest yearly rise was 45.48 percentage points in 2008 and the biggest yearly fall was 41.57 percentage points in 2018. The numbers show how large and when, not why; for the cause, look at what happened in that country in those years.
From 2015 to 2024 the straight-line trend is downward, about 3.19 percentage points a year. A straight line explains 35% of the movement over 10 observed years.
Worked out from the yearly values above. How the checks work: standard deviation, z-scores and straight-line trends.
How it compares
In 2024, Nigeria had the 69th highest value of the 119 economies reporting that year. Higher is not always better: for some indicators the lowest value is the one to aim for. See the full ranking.
| Value | Year | |
|---|---|---|
| Nigeria | 32.54% | 2024 |
| Lower middle income | 33.05% | 2024 |
Closest to Nigeria in the 2024 ranking
- Uzbekistan — 66th of 119: 34.07%
- Togo — 67th of 119: 33.84%
- Philippines — 68th of 119: 33.22%
- Egypt, Arab Rep. — 70th of 119: 32.29%
- Peru — 71st of 119: 31.62%
- Somalia, Fed. Rep. — 72nd of 119: 30.82%
What this measures
Multilateral debt service is the repayment of principal and interest to the World Bank, regional development banks, and other multilateral agencies. public and publicly guaranteed debt service is the sum of principal repayments and interest actually paid in currency, goods, or services on long-term obligations of public debtors and long-term private obligations guaranteed by a public entity.
Regional and income-group figures are computed by the World Bank as a weighted average.
All 55 values
| Year | Multilateral debt service (% of public and publicly guaranteed debt service) |
|---|---|
| 2024 | 32.54 |
| 2023 | 24 |
| 2022 | 21.91 |
| 2021 | 19.37 |
| 2020 | 29.2 |
| 2019 | 25.51 |
| 2018 | 19.13 |
| 2017 | 60.69 |
| 2016 | 64.38 |
| 2015 | 38.57 |
| 2014 |
Multilateral debt service (% of public and publicly guaranteed debt service) in nearby economies
- Angola — 4.98% (2024)
- Benin — 21.01% (2024)
- Botswana — 99.01% (2024)
- Burkina Faso — 77.19% (2024)
- Burundi — 68.46% (2024)
- Cabo Verde — 50.85% (2024)
- Cameroon — 26.9% (2024)
- Central African Republic — 58.45% (2024)
More economic policy & debt data for Nigeria
- Total reserves, including gold (current US$) — US$46.02 billion (2025)
- Total reserves, excluding gold (current US$) — US$43.01 billion (2025)
- GDP (current US$) — US$290.79 billion (2025)
- GDP (current LCU) — 441.54 trillion (2025)
- GDP (constant 2015 US$) — US$562.59 billion (2025)
- GDP (constant LCU) — 226.52 trillion (2025)
- GDP per capita (current US$) — US$1,224 (2025)
- GDP per capita (current LCU) — 1.86 million (2025)
- GDP per capita (constant 2015 US$) — US$2,369 (2025)
- GDP per capita (constant LCU) — 953,654 (2025)
- GDP (annual % growth)
Reading data like this
Questions people ask
- What is Nigeria's multilateral debt service (% of public and publicly guaranteed debt service)?
- 32.54% in 2024, according to the World Bank (World Development Indicators).
- How has it changed since 1970?
- It is up 8.89 percentage points from 23.65% in 1970. The highest value was 83.53% in 2008 and the lowest 3.4% in 1985.
- How does Nigeria rank?
- 69th highest of 119 economies with data for 2024.
- Is the latest change in multilateral debt service (% of public and publicly guaranteed debt service) unusual for Nigeria?
- In 2024, Nigeria's multilateral debt service (% of public and publicly guaranteed debt service) rose 8.54 percentage points on 2023 (from 24% to 32.54%). Across the 30 yearly changes before that (1994 to 2023), the average change was −0.7 percentage points and a typical year strayed about 18.39 percentage points from that (the standard deviation). This year's change was 0.5 standard deviations above that average, so it was an ordinary year: it sits within the range of normal year-to-year movement.
Source
World Bank, World Development Indicators, indicator DT.TDS.MLAT.PG.ZS, licensed CC BY 4.0. Original source: International Debt Statistics, World Bank (WB) Figures are fetched from the World Bank API and refreshed monthly; see the series on data.worldbank.org. The full definition and method are in the World Bank's metadata glossary. Comparisons use the same World Bank release.
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