NAIRAMETRICS
Nigeria’s total debt to the World Bank increased by $2.36 billion in 2024, driven by six newly approved loans targeted at key sectors including healthcare, rural infrastructure, governance, and fiscal reforms.
Nigeria’s debt to the World Bank surged by $2.36 billion in 2024, reaching a total of $17.81 billion by December. This increase resulted from six new loans approved throughout the year, aimed at sectors such as healthcare, rural infrastructure, governance, and fiscal reforms.
According to data from the Debt Management Office (DMO), “debt to the IDA rose from $14.96 billion to $16.56 billion, while loans from the IBRD climbed significantly from $485.54 million to $1.24 billion.”
These developments position the World Bank as Nigeria’s primary multilateral creditor, highlighting the nation’s increasing reliance on international financial support.
