Nigeria Is 5th W/Bank Debtor Globally With N4.8tr Debt


Nigeria, having borrowed $11.7 billion (about N4.816 trillion) is the fifth highest borrower from the World Bank Group and among the 10 highest debt risk exposure globally, a report said.

The World Bank in the Fiscal Year 2021 (FY21) financial statement of the International Development Association (IDA), its subsidiary, said India is leading with $22bn debt, Bangladesh has $18.1bn, Pakistan has $16.4bn, Vietnam has $14.1bn, and Nigeria has $11.7bn debt.

Nigeria’s $11.7bn or N4.816tr is nearly one third of the 2021 national budget, which is put at N13.6tr.

For a population of 200 million Nigerians, it means each citizen owes the World Bank at least N24,080 in terms of per head distribution.

Other African countries, which are next after Nigeria, include Ethiopia with $11.2bn, Kenya with $10.2bn, Tanzania with $8.3bn, Ghana with $5.6bn, and Uganda owes $4.4bn.

In 2022, the organization said the single borrower limit (SBL) has been set at $45bn, about 25 percent of $180.9bn of equity as of June 30, 2021.

The bank offers concessional loans and grants to the poorest developing countries who are its members.

“As of June 30, 2021, the 10 countries with the highest exposures accounted for 66% of IDA’s total exposure,” it noted.

The report also said $19.5bn loans would be disbursed to Nigeria, which includes $1.46bn loan approved but not yet signed, $6.61bn signed loan commitment, and $11.47bn outstanding loan.

https://dailytrust.com/nigeria-is-5th-w-bank-debtor-globally-with-n4-8tr-debt

The amazing thing is despite the huge increasing debt..

Unemployment increased..
Poverty increased..
Insecurity increased..
Out of school children increased..
Cost of living increased..
Naira still depreciating..
Nigeria more divided along all lines..

what have we really gained?

We will soon enter number 1.

After all we carry number 80 for Olympics games.

Wrong statistics. Even to give us our title they'll still scam us.

For a population of 200 million Nigerians, it means each citizen owes the World Bank at least N24,080 in terms of per head distribution.


The above is nansense!!!. Is daily trust running out of news

we go soon top the league

Ibaaboy:
we go soon top the league

I tell you.

With such debts nothing to show for, but zombies and minions will want us to believe that Mr Lifeless is working.

babyfaceafrica:
For a population of 200 million Nigerians, it means each citizen owes the World Bank at least N24,080 in terms of per head distribution.


The above is nansense!!!. Is daily trust running out of news

better go to any nearest bank and pay your own debt just 24,080

otosa:
better go to any nearest bank and pay your own debt just 24,080

abegi daily trust is been sensational

Buhari ce to steal, kill destroy. What ever he touched will scattered.

Lol
Always ranked high at bad things