Nigerian Minister of Finance who is also the coordinating minister for the Economy, Dr. Ngozi Okonjo-Iweala has stated that that nation's external debt stood at $6.67 billion (about N1.035 trillion) which is 3 per cent of Gross Domestic Product, GDP. She said that the country spent $8.0429 billion in 2006 to service external debt and $10.1072 in 2005 prior to the debt relief of 2006.

The minister said it was important to make the clarification to clear the air on the on-going debate over the nation's indebtedness. She added , "the external debt is typically owed to foreign creditors such as multilateral agencies [like the Africa Development Bank, World Bank, the Islamic Development Bank], as well as other bilateral sources [including the China Exim Bank, the French Development Bank or the Japanese Aid Agency], or to private creditors such as investors in our Eurobonds."..........
http://www.viewpointnigeria.com/bus-eco-mob/item/443-nigeria-external-debt-stands-at-6-67-billion-okonjo-iweala