Nigeria remains the third-largest debtor to the World Bank’s International Development Association (IDA), with outstanding loans rising to $18.2bn as of June 2025, up from $16.5bn a year earlier.
This marks a rise from $16.5bn in June 2024, representing a $1.7bn—or roughly 10.3 percent—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.
Bangladesh tops the list with $22.6bn, followed by Pakistan with $19.3bn, while India’s debt fell to $14.2bn. Ethiopia and Tanzania complete the top five.
Nigeria has received about $3.9bn in IDA loans between June 2023 and June 2025, alongside $1.95bn from the World Bank’s International Bank for Reconstruction and Development (IBRD), bringing total World Bank exposure to $18.23bn—roughly 40% of Nigeria’s external debt.
Economists warn that while concessional loans ease financing, rising dependence raises sustainability concerns, especially given weak revenue and exchange rate risks.
