Nigeria Remains Third Largest IDA Borrower as Fresh $1.25bn World Bank Loan Awaits Approval

Nigeria held its position as the third-largest borrower from the World Bank’s International Development Association (IDA) in Q1 2026 despite a slight drop in exposure from $18.7 billion in December 2025 to $18.5 billion in March 2026. Year-on-year debt rose by 6.9%, up from $17.3 billion in March 2025. Bangladesh leads with $22.7 billion, followed by Pakistan at $19.2 billion. Nigeria’s share amounts to about 8% of the IDA’s $230.8 billion portfolio and 13.3% among the top ten borrowers. The federal government is negotiating a new $1.25 billion loan package to improve finance access, expand digital services, strengthen power supply, and support reforms in tax, trade and agriculture. So far, approvals under President Tinubu total $9.35 billion; with the proposed package, this could rise to $10.6 billion. The Accountant General has urged faster loan approvals and fund disbursements to drive development projects.

Use The App To Win ₦1m

Stories are shared by community members. This article does not represent the official view of NaijaWorld — the author is solely responsible for its content.