By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
Daily Report NigeriaDaily Report NigeriaDaily Report Nigeria
Notification Show More
Font ResizerAa
  • HOME
  • NEWS
  • POLITICS
  • METRO
  • ENTERTAINMENT
  • SPORTS
  • FACT FILE
  • SPECIAL REPORT
Reading: World Bank Ranks Nigeria Third-Largest Debtor
Share
Font ResizerAa
Daily Report NigeriaDaily Report Nigeria
  • METRO
  • NEWS
  • POLITICS
  • SPECIAL REPORT
  • FACT FILE
Search
  • HOME
  • NEWS
  • POLITICS
  • METRO
  • ENTERTAINMENT
  • SPORTS
  • FACT FILE
  • SPECIAL REPORT
Have an existing account? Sign In
Follow US

Home | World Bank Ranks Nigeria Third-Largest Debtor

Business

World Bank Ranks Nigeria Third-Largest Debtor

Olaitan Sodiq
Olaitan Sodiq
Published: June 6, 2025
Last updated: June 6, 2025
2 Min Read
Share
World Bank Approves Fresh $700m Loan for Nigeria
SHARE

 

Nigeria has emerged as the third-largest debtor to the World Bank’s International Development Association, with a total debt stock of $16.5 billion as of June 30, 2024.

This is an increase from its previous position as the fourth-largest borrower in 2023.

ATTENTION: Click “HERE” to join our WhatsApp group and receive News updates directly on your WhatsApp!

According to the World Bank’s latest financial statements, Nigeria’s exposure to the IDA surged by 14.4 percent, rising from $14.3 billion in fiscal year 2023 to $16.5 billion in fiscal year 2024.

This $2.2 billion increase marks Nigeria’s first appearance among the top three IDA debtors.

The IDA provides concessional loans and grants to the world’s poorest countries, with low interest rates and extended repayment periods.

Nigeria’s borrowing from the IDA has been on the rise, with the country receiving at least $2.2 billion in new loans from the IDA under the administration of President Bola Tinubu.

READ ALSO: DSS Freezes 13 Bank Accounts Linked to Suspected Terrorist

The Central Bank of Nigeria’s international payment portal has also revealed that the Tinubu administration spent $5.39 billion on debt servicing out of a total of $9.1 billion in international payments made between June 2023 and July 2024.

This represents 59 percent of the total international payments made during this period.

 

 

For publication of Press Releases, Statements, and Advert Inquiries, send an email to info@dailyreport.ng
TAGGED:third-largest debtorTop Storiesworld bank
Share This Article
Facebook Whatsapp Whatsapp Telegram Email Copy Link
Leave a Comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Latest Updates

INEC Pushes for Legal Backing on Inmate Voting Rights | Daily Report Nigeria
INEC Pushes for Legal Backing on Inmate Voting Rights
Politics
Police Explain Continued Detention of Sowore | Daily Report Nigeria
Police Explain Continued Detention of Sowore
News
Alejandro Garnacho to Chelsea Draws Closer with Personal Terms Agreed | Daily Report Nigeria
Alejandro Garnacho to Chelsea Draws Closer with Personal Terms Agreed
Sports
Patrick Doyle Backs Fuji Star K1 After Airline Confrontation, Shares His Own Experience with Difficult Airport Staff | Daily Report Nigeria
Patrick Doyle Backs Fuji Star K1 After Airline Confrontation, Shares His Own Experience with Difficult Airport Staff
Entertainment
Seyi Sodimu Hails Wande Coal as Afrobeats’ Most Talented, Credits Him for Inspiring Wizkid and Davido | Daily Report Nigeria
Seyi Sodimu Hails Wande Coal as Afrobeats’ Most Talented, Credits Him for Inspiring Wizkid and Davido
Entertainment

TOPIC

2023 Elections Abuja Accident AFCON Anambra APC Arrest ASUU ASUU Strike Atiku Abubakar Bandits Bayelsa BBNaija Biafra Boko Haram Bola Ahmed Tinubu Bola Tinubu Breaking News Breaking News Nigeria Burna Boy Burutu CBN Celebrity news Chelsea Coronavirus court covid-19 Crime Daily Report Ng Daily Report Nigeria Daily Sports News Davido Delta Delta state DSS Education EFCC Elections English Premier League EPL Family federal government FG FIFA World Cup Football Fraud Godwin Emefiele Goodluck Jonathan Governor Nyesom Wike Gunmen Health Ifeanyi Okowa Imo INEC Insecurity IPOB IYC JAMB Kaduna Kidnap Labour Party Lagos Lagos State Manchester United Marriage Muhammadu buhari Music NASS NDDC NDLEA Niger Delta Nigeria NLC Nnamdi Kanu NNPC Nollywood Nyesom Wike Olusegun Obasanjo Pastor PDP Peter Obi Police Politicians President Bola Ahmed Tinubu President Muhammadu buhari Professor Yemi Osinbajo Protest Rape Reno Omokri Rivers State Senate Sheriff Oborevwori Social Media Suicide Super Eagles Tinubu Top Stories Twitter Victor Osimhen Zamfara

You Might Also Like

VAT Bill Will End Agitations in Niger Delta if Passed - Activist | Daily Report Nigeria
News

VAT Bill Will End Agitations in Niger Delta if Passed – Activist

June 13, 2025
#EndBadGovernance: CSO Urges Tinubu to Address Protesters, Say 80% Nigerians Involved
Politics

JUST IN: Tinubu Meets with Council of State Today

June 14, 2025
Flood: Nigeria, Others Get $6m Support from EU | Daily Report Nigeria
News

Flood: Nigeria, Others Get $6m Support from EU

June 14, 2025
Court Remands Two Suspects Over Theft, Burglary In Osun | Daily Report Nigeria
Metro

Court Remands Two Suspects Over Theft, Burglary In Osun

May 7, 2025
© Daily Media N Publishing LTD. All Rights Reserved.
  • Home
  • About Us
  • Adverts With Us
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?