household debts in Nigeria

Gross debt in Nigeria

The government gross debt refers to the total of all sums of money that have to be paid to other countries, communities or institutions. Not included in the gross debt are the demands of a country to foreign ones.

The gross debt in Nigeria in the period from 1998 to 2021 was between 12.2 billion and 144.1 billion USD. The highest level of the last years at 144 billion US Dollar was reached in 2021.

Based on the number of inhabitants, this is a debt of 675 USD per person. For comparison, the average debt per person in the same year in the European Union was 33,695 USD.

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Gross debt of the last 23 years in billion USD

YearNigeria totalNigeria per capitaEU per capita
199812.25 bn USD105 USD14,079 USD
199931.34 bn USD263 USD14,032 USD
200038.88 bn USD318 USD11,232 USD
200138.29 bn USD305 USD11,255 USD
200236.92 bn USD287 USD12,258 USD
200339.55 bn USD300 USD15,286 USD
200442.33 bn USD313 USD17,595 USD
200533.36 bn USD240 USD18,327 USD
200622.20 bn USD156 USD18,877 USD
200722.37 bn USD153 USD20,898 USD
200824.70 bn USD164 USD24,086 USD
200925.42 bn USD165 USD25,361 USD
201034.16 bn USD215 USD26,496 USD
201141.44 bn USD255 USD29,231 USD
201247.46 bn USD284 USD28,174 USD
201353.33 bn USD310 USD29,981 USD
201457.83 bn USD328 USD30,648 USD
201556.71 bn USD308 USD25,918 USD
201657.35 bn USD304 USD26,261 USD
201760.07 bn USD310 USD27,024 USD
2018105.31 bn USD531 USD28,448 USD
2019118.57 bn USD583 USD27,168 USD
2020134.10 bn USD644 USD30,783 USD
2021144.14 bn USD675 USD33,695 USD

Comparison of gross debt per capita with the European Union in U.S. dollars

      Nigeria       European Union

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