Nigeria’s debt to W’Bank IDA hits $18.2bn – Report

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Nigeria has retained its position as the third-largest debtor to the World Bank’s International Development Association, with outstanding obligations of $18.2bn as of June 30, 2025. This marks a rise from $16.5bn in June 2024, representing a $1.7bn—or roughly 10.3 per cent—increase within one year.

The latest figures from the IDA’s financial statements show that Nigeria first climbed to third place in 2024, up from its previous position as the fourth-largest borrower in 2023, and has maintained this ranking into 2025.

The IDA is the concessional lending arm of the World Bank Group, offering low-interest or interest-free loans and grants to the world’s poorest countries. Debt owed to the IDA typically comes with long maturities and generous grace periods, but the growing balances highlight both the scale of Nigeria’s financing needs and the degree of its reliance on concessional funding.

The PUNCH previously noted that during the fiscal year from July 2023 to June 2024, Nigeria received at least $2.2bn in new loans from the IDA. This means that a total of $3.9bn IDA loans have been disbursed to Nigeria in two years, between June 2023 and June 2025, under the administration of President Bola Tinubu.