# Nigeria public debt and World Bank financing trends

> Live situation record from CLSTR: https://clstr.news/situations/nigeria-public-debt-and-financing-trends
> Updated: 2026-09-28T14:26:55.000Z. Sources: 26. Developments: 2.

Nigeria’s total public debt stock rose to N166.79 trillion (approximately $120.93 billion) as of June 30, 2026, marking a 4.7% increase from the N159.35 trillion recorded at the end of March 2026. The debt portfolio consists of N91.59 trillion in domestic debt and N75.20 trillion in external debt. Interest payments accounted for 56.5% of the country’s external debt service bill between April and June 2026.

In response to these fiscal pressures, the Nigerian Federal Government is seeking $1.5 billion in new financing from the World Bank via three separate $500 million International Development Association (IDA) credits. These funds are intended for climate resilience, social protection, and early childhood development. One specific proposal targets the Agro-Climatic Resilience in Semi-Arid Landscapes (ACReSAL) project; if approved by the World Bank board on October 29, 2026, this would increase total World Bank financing for ACReSAL to $1.2 billion.

The financing request has drawn criticism from political figures and opposition groups. Atiku Abubakar, the African Democratic Congress (ADC) presidential candidate, has called on President Bola Tinubu to “account for existing debt before securing further loans.” Additionally, the Allied Peoples Movement (APM) has urged international lenders to reject the financing, citing concerns regarding the nation’s rising debt profile and the absence of a “clear repayment strategy.” As of late June 2026, Nigeria’s exposure to the World Bank Group stood at $20.73 billion, representing roughly 38 percent of the nation’s $54.52 billion external debt.

## Claims

- The Federal Government is seeking $1.5 billion in fresh financing from the World Bank, divided into three $500 million credits. (disputed by 3 sources)
- Nigeria’s total public debt reached N166.79 trillion as of June 30, 2026. (corroborated by 5 sources)
- The World Bank board is scheduled to consider the $500 million ACReSAL project financing on October 29, 2026. (corroborated by 3 sources)
- The Allied Peoples Movement (APM) urged international lenders to reject the proposed $1.5 billion loan to Nigeria. (corroborated by 2 sources)
- Atiku Abubakar demanded that President Tinubu account for existing debt before seeking new World Bank loans. (single source)

## Timeline

### 2026-09-28: Nigeria seeks $1.5bn World Bank loan amid record N166.79tn debt

Nigeria seeks $1.5 billion in new World Bank loans for climate and social projects amid record public debt of N166.79 trillion, drawing criticism from political opposition.

11 sources. https://clstr.news/cluster/nigeria-seeks-15bn-world-bank-loans-amid-rising-public-debt

### 2026-09-26: Nigeria public debt rises to N166.79 trillion

Nigeria’s public debt rose to N166.79 trillion ($120.93 billion) by June 30, 2026, a 4.7% quarterly increase driven by domestic and external borrowing.

19 sources. https://clstr.news/cluster/nigeria-public-debt-rises-to-n16679-trillion-in-q2-2026

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Cite as: Nigeria public debt and World Bank financing trends. CLSTR, https://clstr.news/situations/nigeria-public-debt-and-financing-trends