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Nigeria emerges third-largest debtor to World Bank’s IDA, gets $2.2 billion under Tinubu

Nigeria has ascended to become the third-largest debtor to the World Bank’s International Development Association (IDA) as of June 30, 2024, reflecting a significant increase in the country’s borrowing from the institution.
According to the World Bank’s financial statements, Nigeria’s exposure to the IDA rose by 14.4% from $14.3 billion in the fiscal year (FY) of 2023 to $16.5 billion in FY2024.
This $2.2 billion increase places Nigeria among the top three IDA debtors for the first time, a notable shift from its previous position as the fourth-largest borrower in 2023.
The fiscal year for 2024 runs from July 2023 to June 2024, which means that Nigeria has received at least $2.2 billion from the World Bank under the administration of President Bola Tinubu.
This debt is different from any outstanding loan from the World Bank’s International Bank for Reconstruction and Development (IBRD).
Other top debtors
Bangladesh remains the largest IDA debtor, with its exposure increasing from $19.3 billion in 2023 to $20.5 billion in 2024. Pakistan follows, maintaining its second position with a stable exposure of $17.9 billion over the same period.
India, which was previously the third-largest borrower in 2023 with $17.9 billion, saw a decrease in its IDA exposure to $15.9 billion in 2024, allowing Nigeria to surpass it.
Other significant IDA borrowers include Ethiopia, whose exposure grew from $11.6 billion in 2023 to $12.2 billion in 2024, and Kenya and Vietnam, both with $12.0 billion in 2024.
These countries, along with Tanzania, Ghana, and Uganda, comprise the top ten IDA debtors, collectively accounting for 63% of the IDA’s total exposure as of June 30, 2024.
The International Development Association (IDA) is a key arm of the World Bank, dedicated to providing concessional loans and grants to the world’s poorest countries.
These loans, characterized by low interest rates and long repayment periods, are designed to foster economic growth, reduce inequalities, and improve living conditions in developing countries.
Nairametrics earlier reported that Nigeria secured a total of $4.95 billion in loans from the World Bank under Tinubu amid concerns over the country’s rising external debt servicing costs.
However, Nigeria has received only about 16% of these fresh loans.
The World Bank may approve four loan projects totalling $2 billion for Nigeria this year.
Data from the external debt stock report of the Debt Management Office (DMO) shows that Nigeria owes the World Bank a total of $15.59 billion as of March 31, 2024.
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Shocking! Lassa Fever kills doctor, 97 others in 2025 in Nigeria

By Kayode Sanni-Arewa
The Nigeria Centre for Disease Control and Prevention (NCDC) has emphasised the growing urgency for Nigerians to maintain rodent-free environments and enhance personal hygiene amid the ongoing Lassa fever outbreak.
With the disease spreading and already claiming 98 lives in 2025, including a medical doctor, the agency stressed the need for preventive measures such as proper waste disposal, sealing food in airtight containers, and blocking rodent entry points.
The agency’s Director General (DG), Jide Idris, said that the public health advisory became necessary due to the alarming case fatality rate of 18.3% as of epidemiological week 9 (February 24 – March 2, 2025).
During the period, he said the 98 deaths were recorded across 14 States, including that of a health worker, a physician.
Breaking down the figures, the DG revealed that as of the period under review, Nigeria has recorded 2,728 suspected cases and 535 confirmed cases.
He said Ondo, Bauchi, Edo, Taraba, and Ebonyi States accounted for 91% of confirmed cases, while 10 Local Government Areas (LGAs) contributed 68% of the total cases.
Providing details on the physician’s case, Idris said the agency was notified of a confirmed Lassa fever infection in a 31-year-old physician who had recently returned from the United Kingdom.
On the 5th of March 2025, the Nigeria Centre for Disease Control and Prevention (NCDC) was notified of a confirmed case of Lassa fever by the Ondo State Ministry of Health, in a 31-year-old physician managed at a private health facility in Ondo State after returning from a trip abroad (UK).
“The patient departed Nigeria on 19/02/2025 and returned on 27/02/2025. Samples were taken late on Friday, 28/02/2025, on suspicion of Lassa fever, but the patient unfortunately passed away in the early hours of Saturday, 01/03/2025.
“The laboratory investigation result returned was a Lassa Fever positive on PCR on Tuesday 04/03/2025.
“The patient was said to have visited his fiancée in Edo state, as well as family and friends before travelling,” he said.
The DG assured that to contain the outbreak, the Ondo State Ministry of Health has intensified contact tracing and monitoring of all possible contacts.
He also noted that national health authorities have mobilised response efforts, including surveillance at points of entry and coordination with international health agencies.
News
Just in: Why Mallam El-Rufai dumped APC for SDP revealed

By Kayode Sanni-Arewa
Ex-Governor of Kaduna State, Mallam Nasir el-Rufai has dumped the ruling All Progressives Congress (APC)
His resignation letter has been submitted already to the leadership of the APC in his ward in Kaduna State.
Mallam El-Rufai who was the former Minister of Federal Capital Territory (FCT) has moved to the Social Democratic Party (SDP) and has instructed all his supporters and associates to join the SDP.
The former Kaduna Governor cited an alleged growing discord between his personal values and the current direction of the APC as the primary reason for his decision.
In a statement he made available Monday, 10 March, 2025, El-Rufai expressed disappointment with the APC’s leadership, accusing the party of straying from the progressive ideals of its founding members.
He revealed that he had raised concerns about the party’s trajectory both privately and publicly over the past two years but found no willingness among the current leadership to address the issues.
“Developments in the last two years confirm that there is no desire on the part of those who currently control and run the APC to acknowledge, much less address, the unhealthy situation of the party,” El-Rufai stated.
El-Rufai, who played a key role in the formation of the APC in 2013, recalled his efforts in negotiating the merger of political parties that led to the creation of the ruling party. He also highlighted his contributions to the APC’s electoral successes in 2015, 2019, and 2023, as well as his tenure as Kaduna State Governor, during which he implemented policies focused on education, healthcare, infrastructure, job creation, and investment.
“My eight-year tenure in Kaduna State was devoted to implementing progressive policies to advance human development,” he said. “These records count for little in the current APC that has castrated its organs and treated its membership with contempt in the last two years. I find this no longer acceptable.”
News
BREAKING! Rivers Assembly issues warrant of arrest on RSIEC chairman

…as three commissioners resign
Rivers State House of Assembly has issued a warrant of arrest on the Chairman of RISIEC; Justice Enebeli Rtd.
Apparently this has to do with the last LG elections in the State.
Also, three commissioners in the last 48hours have put in their resignation letters.
Details shortly….
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