Nigeria's World Bank Borrowing Reaches $18.5 Billion

As of March 31, 2026, Nigeria's exposure to the World Bank stands at $18.5 billion, making it the third-largest borrower from the International Development Association (IDA), following Bangladesh and Pakistan. This figure reflects a decrease of $200 million from $18.7 billion at the end of December 2025, a 1.1% reduction over three months.

However, on a year-on-year basis, Nigeria's debt exposure increased by $1.2 billion, or 6.9%, from $17.3 billion in March 2025. The IDA's total outstanding loans were reported at $230.8 billion.

Nigeria's reliance on concessional financing is underscored by its ongoing engagement with the World Bank, as the federal government seeks an additional $1.25 billion to improve financial access, enhance digital services, and support tax administration reforms. Concerns about rising debt are highlighted by financial experts, including Dr. Paul Alaj, who noted the implications of increasing multilateral loans on future generations.