₦airaland Forum

Nigeria, which has been substantially dependent on loans from foreign lenders, including the World Bank, has seen its debt stock rise significantly under its current administration.

Nigeria's debt to foreign lenders has substantially increased under its current administration.
Debt to the World Bank is projected to reach $9.65 billion by year-end, with notable contributions from IDA and IBRD loans.
Nigeria has become Africa's largest International Development Association borrower, holding a $18.5 billion stock in IDA loans.
Total external debt for the country was reported at $46.98 billion as of mid-2025.

Current projections show that the country’s debt to the World Bank is on track to hit $9.65 billion before the year runs out.

Drawing figures from the lender’s website, The Punch reports that the debts cover International Bank for Reconstruction and Development (IBRD) and International Development Association loans (IDA).

While the International Development Association offers thoroughly concessional loans and grants to the world's poorest countries, the International Bank for Reconstruction and Development offers credits on commercial or near-commercial terms to middle-income and financially sound low-income countries.

Loan procurements under Nigeria's current president, Bola Tinubu, began shortly after his inauguration in 2023, with $2.7 billion in loans for four key projects.

In the same year, financing was focused on power sector recovery, renewable energy access, girls' education, and women's economic development.

The Nigeria Distributed Access through Renewable Energy Scale-up project secured $750 million in IDA assistance to strengthen private sector-led clean energy access.

Another $700 million IDA credit was recently allocated to girls' secondary education in participating states.

The Nigeria for Women Programme Scale Up received $500 million in IDA funding to support women's economic empowerment.

Currently, the country is looking to borrow an additional $500m from the World Bank on December 19.

These and many other loan programs have driven the country’s debt to the World Bank close to $10 billion.

The current year's loan pipeline is roughly comparable with the $2.7 billion obtained in 2023; however, it represents a fall of roughly 36.6% when compared to 2024.

IDA loans total nearly $7.30 billion over the course of the three years, while IBRD loans provide about $2.35 billion.

Grants increase by an additional $122.19 million, from $0 in 2023 to $70.01 million in 2024, then to $52.18 million in 2025.

As per the Punch, Nigeria is currently Africa’s largest IDA borrower, and the third-biggest in the world, as the West African country’s stock of World Bank International Development Association loans has climbed to $18.5 billion.

Nigeria's exposure surged by $1.4 billion, or 8.2%, from $17.1 billion in September 2024 to $18.5 billion in September 2025.

Nigeria’s total external debt was reported to be at $46.98 billion as of June 30, 2025.

malali:
Nigeria’s rising external debt reflects a government leaning heavily on credit without achieving proportional gains in jobs, productivity, or fiscal resilience.

As [b]poverty deepens, the nation diverts vast resources toward combating banditry and kidnapping, issues rooted in exclusion rather than ideology.

When daily survival becomes uncertain for millions, social order erodes regardless of how many vehicles follow a political convoy. Sustainable security begins with economic dignity, not escalating debt.[/b]

Ttalk:
I know you will definitely type nonsense.How is terrorism, kidnapping and genocide and indigenous displacement amount to neglect?Are southerners killing the indigene and talking their land?

malali:

All the insecurity in Naija is as a result of poverty. If Musa Obinna and Bayo had 3 square meals, a comfortable accommodation and a business which is thriving. No one will entice them with funds to come and do banditry,kidnapping or other vices.

We are running away from the real cause of the problems and chasing shadows.

Jakarta:
So based on your analogy it is poverty that made people go into worship centers and started shooting, and bombing them? You need serious beating.

EmperorIsaac:
This is another failure of this administration. However, I am not a gbajue adherent (Obi has nothing to offer besides hypocrisy).

Jakarta:
Even America is owing trillions of $ is what they will tell you. But when it comes to comparing standard of living in both countries, they start to shift goal post. Somebody say bambiala borrow, borrow.

malali:
No comfortable person wants to die. Trust me.These people are easily hired because poverty in the north is very high. Can you hire Dangote's child to go and do banditry and kidnapping ?

Some people in the north dont have access to 20k naira from January to December. These people will commit crimes for 10k naira, they dont care about what the optics look like,

Jakarta:
So based on your analogy it is poverty that made people go into worship centers and started shooting, and bombing them? You need serious beating.

malali:

All the insecurity in Naija is as a result of poverty. If Musa Obinna and Bayo had 3 square meals, a comfortable accommodation and a business which is thriving. No one will entice them with funds to come and do banditry,kidnapping or other vices.

We are running away from the real cause of the problems and chasing shadows.

Flangelo12:
Trump is 3 Trillion dollars this term.

CodeTemplarr:
by your own submission, N20k can be given to 550,000 people in Kebbi instead of using N11B to run Hajj. Na wa ooo. It is a matter of priority.

Sucolee:
Davido have 30billion dollars,he will borrow us 10 billion dollars out of it..he will collect it back when he become the next osun state governor

malali:
No comfortable person wants to die. Trust me.These people are easily hired because poverty in the north is very high. Can you hire Dangote's child to go and do banditry and kidnapping ?

Some people in the north dont have access to 20k naira from January to December. These people will commit crimes for 10k naira, they dont care about what the optics look like,

lilsmart:
Poverty is the root of all crimes

Jakarta:
That's childish, those farming in the north, rolling wheelbarrows morning to night, riding keke and motorcycles don't know how to steal or kidnap? A man caught red handed on top of someone else's wife, will always have a reason why he did what he did. Stop using poverty to justify insecurity, that's childish and lazy thinking.