My people, hear this gist! Naija don carry more debt for World Bank neck, as e don increase by $1.9 billion in just one year, wahala no dey finish! As of December 31, 2025, our total debt to di World Bank’s concessional lending arm, weyi dem dey call International Development Association (IDA), now stand at $18.7 billion.
Na wetin happen be say, for 2024, e be $16.8 billion, so dis one na serious 11.3 percent increase! E be like say we dey depend on dem for money pass as we dey struggle with our budget and global money wahala. E no good, my people.
According to di report wey just land, Nigeria na di third largest borrower for IDA portfolio. Two countries don dey front us: Bangladesh wey dey owe $23 billion and Pakistan wey dey carry $19.4 billion. Together, di ten countries wey dey owe na $226.4 billion, abeg, make we sabi dey monitor dis kind thing well well.
Di report talk say dis sharp increase no be just because we chop money anyhow; dem dey release project funds for health, education, and infrastructure, but e still mean say we dey pile up debt wey fit affect our future. As di country dey grow, we need to see how we go fit pay back all dis money before e go turn to chicken wey come back to roost.
Dem fit dey use dis concessional loans wey dey give long terms and grace periods, but e go dey add to our total external debts. Right now, Nigeria external debt don reach $46.98 billion, and World Bank dey hold about 41.3 percent of dat money, you see am? Na serious matter o!
Economist Dr. Muda Yusuf, wey dey run Centre for Promotion of Private Enterprise, don talk say we need reason finish as World Bank dey gree give us all dis money. Him also talk say, borrowing no be bad thing if we sabi manage am well, but wetin we borrow must fit help us grow economy wey go make us fit pay back later.
He still yarn say we gatz dey careful about dis foreign loans because e dey come with exchange rate wahala. If dem put pressure for our reserves, e fit weaken our exchange rate join. So, as we dey chop this foreign money, make we no forget say we gatz dey disciplined to avoid long-term fiscal wahala for Naija.
So, enjoy the beer, but make we dey reason our money matter well well o! The gist don hot, what you think? We gatz hold ourselves accountable, make we no dey draw more and more debts for body without plan. Naija fit shine again if we dey take am easy!
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