[REVISION HISTORY]

Nigeria public debt and World Bank financing trends

Updated 1 time since CLSTR started tracking revisions of this situation.

What changed

2026-09-28 20:42 UTC → 2026-09-29 16:51 UTC · added ~~removed~~

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. This request is structured as~~ Bank via three separate $500 million International Development Association (IDA) ~~credits~~ credits. These funds are intended ~~to fund~~ for climate resilience, social protection, and early childhood development. One specific proposal ~~specifically~~ targets the Agro-Climatic Resilience in Semi-Arid Landscapes (ACReSAL) ~~project.~~ 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, ~~which represents~~ representing roughly 38 percent of the nation’s $54.52 billion external debt.

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