Nigeria Remains Attractive to International Creditors

Dr. Iyabo Masha, the G-24 director, affirmed that Nigeria continues to attract international creditors, allowing the country to access loans from international institutions. Speaking during a question-and-answer session at the 2026 Spring Meetings of the World Bank and International Monetary Fund in Washington, D.C., she noted that Nigeria's ability to borrow significantly depends on its revenue-generating capacity.

Masha pointed out that the high cost of borrowing is a major concern, particularly for developing countries like Nigeria, which struggle with low tax revenue due to a large informal sector. She explained that this situation weakens the financial profile of the country, leading to higher interest rates from lenders.

Furthermore, Masha clarified that Nigeria does not currently qualify for debt relief due to its borrowing structure and ability to service obligations, placing it outside the category of distressed economies. She also discussed the complexities of global debt relief efforts, emphasizing that the landscape has evolved since the early 2000s, complicating the coordination of relief processes.