Nigeria Paid World Bank $848.7Million In Debt Servicing As Outstanding Loans Hit $19.8Billion
Nigeria Paid World Bank $848.7Million In Debt Servicing As Outstanding Loans Hit $19.8Billion
A SaharaReporters review of the DMO data showed that the payments were made to two arms of the World Bank Group: the International Development Association and the International Bank for Reconstruction and Development.
Nigeria paid a total of $848.7 million in debt servicing to two World Bank institutions in 2025, while its outstanding debt to the agencies rose to $19.8 billion by the end of the year, according to data reviewed from the Debt Management Office (DMO).
A SaharaReporters review of the DMO data showed that the payments were made to two arms of the World Bank Group: the International Development Association and the International Bank for Reconstruction and Development.
According to the analysed figures, the World Bank’s “International Development Association” received $769.2 million from Nigeria as debt service payments in 2025.
The “International Bank for Reconstruction and Development”, which is under the ‘World Bank group’, received $79.5 million within the same period.
Combined, the two agencies received $848.7 million in debt servicing payments from Nigeria during the 2025 fiscal year.
However, despite these repayments, Nigeria’s outstanding debt obligations remain substantial. The data reviewed showed that Nigeria owes the ‘International Development Association’ $18.506 billion, while the “International Bank for Reconstruction and Development” is owed $1.384 billion as of the end of 2025.
This brings Nigeria’s total debt exposure to the two World Bank arms to approximately $19.8 billion.
Investigative reporting service
The figures highlight a widening fiscal burden, even as the country continues to rely on external borrowing to fund key development priorities.
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The development comes at a time when Nigeria is seeking a fresh $1.25 billion loan from the global apex lender
Earlier, SaharaReporters reported that the World Bank restricted comments on its Instagram page following a wave of reactions from Nigerians opposing plans by President Bola Tinubu’s administration to secure the new loan facility.
The restriction followed widespread online backlash, as Nigerians flooded the World Bank’s social media platforms urging the institution to halt further lending to Nigeria amid concerns over rising debt levels and worsening economic hardship.
Reports indicate that the Nigerian government is currently in advanced discussions with the World Bank over a proposed loan facility intended to support economic reforms, electricity expansion, digital infrastructure, agriculture, and job-creation programmes.
The proposed facility, titled “Nigeria Actions for Investment and Jobs Acceleration,” is expected to be presented for approval on June 26, 2026.
The timing of the proposed approval has also generated public debate, as it is expected to come just over six months before the January 16, 2027 presidential election, based on the revised timetable released by the Independent National Electoral Commission (INEC).
If approved, the $1.25 billion facility would become the second-largest single loan obtained from the World Bank under the Tinubu administration, following the $1.5 billion “Reforms for Economic Stabilisation to Enable Transformation Development Policy Financing” approved in June 2024.
