Nigeria’s Revenue Jumps 72% to ₦6.2 Trillion as FG Challenges World Bank Debt WarningABUJA, Nigeria | October 19, 2026Nigeria’s federal government has reported a 72% increase in revenue for the first half of 2026, with collections rising to ₦6.2 trillion from ₦3.6 trillion recorded during the same period in 2025.The increase comes amid continued scrutiny of the country’s debt-servicing obligations and the proportion of government revenue used to pay interest.Taiwo Oyedele has challenged concerns over Nigeria’s debt position, saying the country’s debt remains within acceptable limits.His comments followed a World Bank assessment that placed Nigeria’s interest-to-revenue ratio at 124%. The figure suggests that interest payments exceeded the revenue measure used in the calculation.The Federal Government has disputed the interpretation of the figure and questioned the basis used to assess Nigeria’s debt-servicing burden.Despite the increase in revenue, interest payments rose by 38% during the period.The rise highlights the pressure debt servicing continues to place on public finances. While higher revenue could provide the government with more funds for infrastructure and public services, the available resources depend on the amount left after debt obligations and other government expenses are paid.The revenue increase does not by itself indicate that Nigeria’s overall debt burden has declined. The country’s fiscal position also depends on total debt, interest costs, government spending and the revenue measure used to calculate debt-service ratios.The disagreement between the Federal Government and the World Bank centres on how Nigeria’s revenue capacity and debt-servicing obligations should be measured.Nigeria’s ability to maintain higher revenue collection while controlling borrowing costs will remain central to the country’s fiscal outlook.
