Nigeria’s World Bank Debt Swells to $18.7 Billion as Multilateral Reliance Deepens.
On Thursday, February 19, 2026, new financial data from the International Development Association (IDA) revealed that Nigeria’s debt to the World Bank’s concessional lending arm has climbed to $18.7 billion. With this latest surge, Nigeria has solidified its position as the third-largest borrower in the IDA portfolio globally, trailing only Bangladesh ($23.0 billion) and Pakistan ($19.4 billion).
The uptick highlights the Tinubu administration’s strategic shift toward low-interest, long-maturity loans to fund critical gaps in healthcare, education, and infrastructure, including the $500 million BRIDGE digital backbone project, amid tightening revenue conditions and global economic volatility.
While the World Bank now holds approximately 41.3% of Nigeria’s total external debt, economists warn that the rapid accumulation of foreign-currency obligations poses long-term sustainability risks. Continued borrowing in US dollars intensifies pressure on national reserves and the naira, particularly as the International Monetary Fund (IMF) projects Nigeria’s debt-to-GDP ratio to settle at 35% by 2026.
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