The Nigerian government owes a lot of money to other countries and if Nigeria defaults it will hurt it's economic situation and worsen the Naira currency. According to the Nigerian federal reserve boss, Gov Godwin Emefiele " Nigerian will pay it debt before obligations".
In his words
“We have ensured that any of our debts due is given utmost priority, particularly foreign debt.
It is like first line charge, and the minister talks to me about it. And we ensure that wherever we are going to find the dollar, we would pay any of our debts, even before we service any obligation. That is a rule if it is Nigeria’s authentic sovereign debt.”