Nigeria’s debt servicing rises 68% to N13tn

• States pay off N1.98 tn local debts amid rising borrowing costs • Govt borrowing less than before – Shettima

Nigeria spent a total of N13.12tn on debt servicing in 2024, representing a 68 per cent increase from the N7.8tn recorded in the previous year, according to an analysis of fresh data from the Debt Management Office.

The PUNCH observed that the debt servicing costs recorded in 2024 surpassed the budgeted allocation of N12.3 tn…