Nigeria, April 16 -- Nigeria's debt-to-gross domestic product (GDP) ratio hit 32.3 per cent in 2026, according to new data from the International Monetary Fund (IMF).

The IMF revealed the projection in its Fiscal Monitor report, published on Wednesday at the ongoing IMF-World Bank Spring Meetings in Washington DC.

According to the IMF, Nigeria's debt-to-GDP ratio slumped from 35.5 per cent in 2025 to 32.3 per cent in 2026 and is expected to be 33.1 per cent in 2027.

By 2031, Nigeria's debt will return to 30.1 per cent of its GDP, per the IMF projection.

In the report, the IMF explained that constraints on the fiscal scope of low-income emerging economies could force governments to cut spending on essential services such as health, edu...