Nigeria vs South Africa

Nigeria vs South Africa: Government debt

Government debt: 36.1% of GDP in Nigeria in 2025 and 76% of GDP in South Africa in 2024, by IMF estimates. In 2024 the value was higher in South Africa, by 36.6 percentage points, or 1.93 times that in Nigeria.

% of GDP · IMF

Nigeria vs South Africa: Government debtGovernment debt: 36.1% of GDP in Nigeria in 2025 and 76% of GDP in South Africa in 2024, by IMF estimates. In 2024 the value was higher in South Africa, by 36.6 percentage points, or 1.93 times that in Nigeria.
NigeriaSouth AfricaIMF projection (World Economic Outlook, October 2026)

What the numbers say

  • South Africa has been higher since 2001, when it overtook Nigeria.
  • The IMF projection (World Economic Outlook, October 2026) puts Nigeria at 31.9% of GDP and South Africa at 79.8% of GDP in 2031.

Every year

% of GDP · IMF

YearNigeriaSouth Africa
202536.178.4
202439.376
202336.373.2
202229.870.7
202126.668.8
202025.768.9
201921.456.1
201820.451.5
20171848.6
201617.447.1
201514.945.2
201415.843.3
20131340.4
201212.537.4
201112.434.7
20106.731.2
20096.127
20085.224.1
20075.824.3
20066.728
200513.529.6
200425.230.7
200329.931.5
200230.731.8
200137.738.1
200040.937.9
199946.1–
199815.8–
199717.1–
199617.9–
199524.2–
199439.7–
199350.4–
199249.8–
199153.2–
199050.9–
  • 12.3Projected
IMF projection (World Economic Outlook, October 2026) · 2026–2031
YearNigeriaSouth Africa
202634.778
202732.878.1
202832.978.8
202932.579.5
203032.279.7
203131.979.8

Each country on its own

Good to know

  • What the government owes, as a share of the economy’s yearly output.
  • Source: IMF, World Economic Outlook, October 2026.
  • The dashed line is the IMF projection (World Economic Outlook, October 2026), a scenario rather than a forecast.
  • Ranks count the 149 countries with a value in 2025, highest first.

How the layers work, where their data comes from and what they can’t tell you: Countries through time

Nigeria vs South Africa

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