The World Bank said Nigeria’s exposure to its concessional lending arm, the International Development Association (IDA), fell by $200 million in the first quarter of 2026 but rose by 6.9 per cent compared with a year earlier.
Data from the IDA’s latest March 2026 financial statements showed that Nigeria’s exposure fell to $18.5 billion as of March 31, 2026, from $18.7 billion at the end of December 2025, representing a decline of $200 million or 1.1 per cent over the three-month period.
However, on a year-on-year basis, Nigeria’s debt exposure increased by $1.2 billion, or 6.9 per cent from $17.3 billion recorded in March 2025, showing the country’s continued dependence on concessional financing from the World Bank.
The bank said the quarter‑on‑quarter decline showed a modest easing in Nigeria’s short‑term use of concessional finance, but that the year‑on‑year increase reflected the country’s continued reliance on IDA resources to support development programmes.
The IDA reported that Nigeria remained its third‑largest borrower as of March 31, 2026, trailing only Bangladesh and Pakistan.
