Nigeria's external debt reached about $145.0 billion in 2025, according to the World Bank's International Debt Report 2026.

The figures

According to reports on Friday, 6 November 2026, the total was 6.6 per cent higher than the year before and about 74 per cent higher than the $83.2 billion recorded in 2015. Public and publicly guaranteed debt made up about $62.4 billion of the total, private debt without government guarantees about $54.5 billion, and short-term debt about $28.1 billion. Multilateral lenders were the biggest creditors of the government, at about $31.4 billion, including about $18.5 billion owed to the World Bank's International Development Association. China remained Nigeria's largest single-country lender, owed about $5.7 billion.

Burden of repayments

Some measures of the debt burden improved: external debt fell to 212 per cent of export earnings and to 51 per cent of gross national income. But debt service took a bigger share of income, rising to 19 per cent of exports and 5 per cent of gross national income.

The global picture

The World Bank said debt service payments by low- and middle-income countries reached $1.4 trillion in 2025, the fifth yearly rise in a row, driven largely by payments to private lenders such as bondholders. It noted that loans from official lenders carried an average interest rate of 1.9 per cent, compared with 9.6 per cent from private creditors.

Why it matters

The figures come as President Bola Tinubu seeks Senate approval for new external borrowing of about $7.7 billion, a request opposition figures, including Atiku Abubakar, have urged lawmakers to reject. The government says borrowing is needed to fund infrastructure and that its reforms are improving the economy.

Gunmen have reportedly abducted 10 passengers travelling on the Ijebu-Ode–Ibadan road in Ogun State and are demanding ₦25 million for their release.

What happened

The passengers were travelling in a commercial bus when armed men stopped the vehicle shortly after it passed through Ijebu-Ode on Tuesday, 3 November 2026, and took them into a nearby forest, according to reports on Friday. Two recently discharged members of the National Youth Service Corps (NYSC) were said to be among the passengers; one escaped, while the other remains in captivity.

Ransom demand

A relative of one of the victims said the incident was reported at a police station in Ijebu-Ode. She said the kidnappers later contacted the family using her brother's phone, first demanding ₦20 million and then raising it to ₦25 million. The Ogun State Police Command had not publicly commented at the time of writing.

Background

Kidnapping on highways in the South-West has become a growing concern, with travellers on roads linking Ogun, Oyo and neighbouring states reporting attacks in recent years. Earlier this week, a court heard that suspects arrested over the abduction of corps members had admitted making confessional statements. Paying ransom is illegal in Nigeria, though families often say they feel they have no other choice.

What happens next

Families of the victims are calling on the police and other security agencies to rescue the passengers.

The Nigerian Army says its troops have rescued 16 kidnapped people during operations against armed groups in Niger State.

What the army said

In a statement on Friday, 6 November 2026, Captain Adebayo Samuel Adewumi of the army's 18 Brigade said the operations took place between 3 and 5 November. In the main operation on 5 November, troops acting on intelligence about armed men moving from Mashegu Local Government Area towards Rijiyan Nagwamatse in Kontagora Local Government Area set up an ambush. The army said it clashed with the group, which had abducted local residents, killed an unconfirmed number of the attackers and freed 16 victims.

Items recovered

Troops said they recovered two AK-47 rifles, seven magazines, three rocket-propelled grenade bombs, 33 motorcycles, ammunition and about ₦4.1 million in cash. In a separate operation on 3 November, troops intercepted armed men moving from Kebbi State into Rijau Local Government Area of Niger State, forcing them to retreat, and recovered five motorcycles, a phone and about ₦644,000. The rescued victims received first aid and were handed over to the authorities to be reunited with their families.

Background

Niger State has suffered repeated attacks and kidnappings by armed groups. Separately, the families of Islamiyya students abducted in Rafi Local Government Area last week say the kidnappers have demanded more than ₦100 million. The army did not say whether any of those students were among the people rescued.

What happens next

The army said operations would continue across the state.

The Police Service Commission (PSC) has dismissed three senior police officers and demoted 16 others following investigations into misconduct.

The decisions

In a statement reported on Friday, 6 November 2026, the commission's spokesman, Torty Kalu, said the decisions were made at a plenary session at its headquarters in Abuja on Tuesday, chaired by PSC chairman Hashimu Argungu, a retired deputy inspector-general of police. Besides the dismissals and demotions, 21 officers received severe reprimands and two received ordinary reprimands. Three officers were cleared of the allegations against them, and several officers who had been suspended were reinstated.

Names not released

The commission did not name the officers or say what each had done. Argungu restated the commission's zero-tolerance stance on corruption, human rights abuses, interference in land and civil disputes, and other misconduct in the police.

Background

The PSC is the body responsible for appointing, promoting and disciplining police officers, apart from the Inspector-General. Complaints of extortion, unlawful arrests and other abuses by police officers are common in Nigeria. This week, two officers were also detained in Nasarawa State over the alleged extortion of ₦150,000 from a traveller.