External debts incurred by Nigerian Presidents 1979 – 2024

External debts incurred by Nigerian Presidents from the administration of late President Shehu Shagari in 1979 to 2024 rose from N2.3 billion in 1979 to ₦56.02 trillion in 2024; and it is still rising in the administration of incumbent President Bola Tinubu.

External debt declined for the first time in Nigeria since 1979 in the administration of former President Olusegun Obasanjo in 1999 from ₦2.58 trillion to ₦438.9 billion.

Nigeria’s debt was held constant for the first time in the administration of late Head of State, General Sani Abacha at ₦633.1 billion and ₦633 billion from 1993 to 1998.

See details below.

🇳🇬PRESIDENTS BY EXTERNAL DEBT

SHAGARI: ₦2.3bn — ₦10.5bn

BUHARI: ₦10.5bn — ₦17.3bn

IBB: ₦17.3bn — ₦633.1bn

ABACHA: ₦633.1bn — ₦633bn

ABDUSALAMI: ₦633bn — ₦2.58tn

OBJ: ₦2.58tn — ₦438.9bn

YAR: ₦438.9bn — ₦689.8bn

GEJ: ₦http://689.bn — ₦2.11tn

PMB: ₦2.11tn — ₦33.25tn

BAT: ₦33.25tn — ₦56.02tn*

Credit: StatiSense