Debt Profile: Undisbursed Loans May Drive Nigeria’s Debt To $21.15BN

Nigeria’s yet-to-be disbursed loans from the World Bank may see debt stock increase from the current $12.72bn to $21.15bn, by 66.27 per cent all time high

This was contained in the audited financial statements of World Bank for the fiscal year 2022 which shows that the lender is yet to disburse about $8.12bn to Nigeria as of June 30, 2022.

Giving a breakdown of the loans: $7.60bn was from the International Development Association, IDA, while $514m from the International Bank for Reconstruction and Development, IBRD.

Both arms of the lender have over the years advanced loans to Nigeria.

Read Also: Aviation Sector: Emirates Suspends Flights To Nigeria Over $85M Blocked Funds

Report shows that that these undisbursed loans encompass loans approved but not signed as well as the signed loans commitments.

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