Nigeria spent nearly $1 billion servicing its foreign debt in the first two months of 2026, according to the Central Bank of Nigeria (CBN), as loan repayments and capital outflows increased.
The CBN’s February 2026 Economic Report showed that the country spent $440 million on external debt servicing in January and another $480 million in February, bringing the total amount paid within the two-month period to $920 million.
The report also revealed that total capital outflows rose from $1.63 billion in January to $2.75 billion in February, mainly due to increased capital transfers and higher loan repayments.
According to the CBN, “Capital outflows increased, mainly on account of higher capital transfers in the review period. Total capital outflow rose to $2.75bn, from $1.63bn in the preceding month.”
The apex bank explained that the rise was largely driven by capital transfers, which increased by 91.53 per cent to $2.26 billion. It added that loan repayments
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