Nigeria Retains Position as World Bank’s Third-Largest IDA Borrower Despite Slight Debt Dip

 By Kehinde Awosina 



Nigeria has maintained its ranking as the third-largest borrower from the International Development Association (IDA), the concessional lending arm of the World Bank, even as its debt exposure recorded a marginal decline in the first quarter of 2026.


According to the World Bank’s latest financial data for March 2026, Nigeria’s IDA exposure stood at about $18.5 billion, down slightly from $18.7 billion recorded in December 2025, representing a decrease of roughly $200 million (1.1%) over the three-month period. 


Despite the quarterly reduction, Nigeria retained its position behind Bangladesh and Pakistan, which ranked first and second respectively among IDA borrowers. Other top borrowers include Ethiopia, Tanzania, and Kenya. 


However, the country’s overall borrowing trend shows a longer-term increase. Year-on-year figures indicate that Nigeria’s exposure rose by about $1.2 billion (6.9%), compared to $17.3 billion in March 2025, reflecting continued reliance on concessional financing to support infrastructure and development programmes. 


The IDA loans, which typically carry low or zero interest rates and long repayment periods, are widely used by developing economies to fund projects in sectors such as education, health, energy, and public infrastructure.


The latest figures reinforce Nigeria’s position as one of the World Bank’s most significant borrowers globally, while also highlighting the persistent balance between short-term debt moderation and long-term financing dependence.

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