Nigeria has maintained its position as the third largest borrower from the World Bank’s International Development Association despite recording a slight reduction in its debt profile during the first quarter of 2026. Recent financial statistics revealed that the nation’s exposure decreased from $18.7 billion in December 2025 to $18.5 billion by March 2026, indicating a small reduction over the three-month period.
The News Chronicle reports that even though the most recent numbers point to a temporary slowdown in Nigeria’s borrowing levels, the nation’s total debt exposure to the World Bank is still greater than it was a year ago. With a $1.2 billion increase over March 2025, Nigeria’s obligations highlight the government’s ongoing reliance on concessional funding to support vital economic sectors.
Among the World Bank’s biggest IDA borrowers, only Bangladesh and Pakistan now rank ahead of Nigeria; Ethiopia, Tanzania, and Kenya lag behind. Analysts say the numbers highlight Nigeria’s increasing need for development financing as the government keeps making changes to infrastructure, electricity, agriculture, and digital services.
The Federal Government is also pushing for a fresh $1.25 billion World Bank facility that could increase total approvals secured under President Bola Tinubu’s administration to over $10 billion. Officials, however, continue to demand faster approval and disbursement processes from the global lender.
