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Nigeria’s Debt To W’Bank IDA Hits $19.2bn -Report

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Nigeria has retained its position as the third-largest debtor to the World Bank’s International Development Association (IDA) with outstanding obligations of $18.2bn as of June 30, 2025.

This marks a rise from $16.5bn in June 2024, representing a $1.7bn—or roughly 10.3 per cent—increase within one year.

The latest figures from the IDA’s financial statements show that Nigeria first climbed to third place in 2024, up from its previous position as the fourth-largest borrower in 2023, and has maintained this ranking into 2025.

The IDA is the concessional lending arm of the World Bank Group, offering low-interest or interest-free loans and grants to the world’s poorest countries.

Debt owed to the IDA typically comes with long maturities and generous grace periods, but the growing balances highlight both the scale of Nigeria’s financing needs and the degree of its reliance on concessional funding.

It was learnt that during the fiscal year from July 2023 to June 2024, Nigeria received at least $2.2bn in new loans from the IDA. This means that a total of $3.9bn IDA loans have been disbursed to Nigeria in two years, between June 2023 and June 2025, under the administration of President Bola Tinubu.

This borrowing does not include any outstanding loans from the World Bank’s International Bank for Reconstruction and Development, which is separate from the IDA.

Bangladesh remains the largest IDA borrower globally, with its debt stock increasing from $20.5bn in June 2024 to $22.6bn in June 2025. The South Asian country continues to dominate the exposure table, accounting for the largest single share of the IDA’s loan portfolio.

Pakistan follows as the second-largest borrower, with its debt rising from $17.9bn to $19.3bn over the same period. India, which in prior years ranked ahead of Nigeria, remains a significant IDA borrower despite a decline in its exposure.

Its outstanding debt fell sharply from $15.9bn in June 2024 to $14.2bn in June 2025, a drop of $1.7bn, largely due to repayments outpacing new disbursements.

Ethiopia rounds out the top five, with its debt stock rising from $12.2bn to $14.0bn in the 12-month period. The other countries in the 2025 top ten list reflect shifts in the IDA’s lending profile.

Tanzania’s debt surged from $11.7bn to $13.7bn, moving it ahead of Kenya, which also saw a significant increase from $12.0bn to $13.0bn. Vietnam’s exposure fell from $12.0bn to $11.6bn, causing it to drop in the rankings, while Ghana’s debt climbed from $6.7bn to $7.2bn.

Côte d’Ivoire entered the top ten in 2025 with $6.2bn, displacing Uganda, whose debt stood at $4.8bn in 2024. Overall, the IDA’s top ten borrowers accounted for 61 per cent of its total exposure in 2025, down slightly from 63 per cent in 2024.

This concentration shows the relevance of the Single Borrower Limit, which caps lending to any single country at 25 per cent of the IDA’s equity.

For the 2026 fiscal year, the SBL was set at $51.0bn—up from $47.5bn in FY25—well above the current exposure levels of the largest borrowers, meaning the limit is not presently a binding constraint.

Nigeria’s continued presence near the top of the IDA debtor table reflects its persistent financing gap for development spending, particularly in infrastructure, energy access, and poverty reduction programmes.

While IDA loans offer more favourable terms than market borrowing, the steady accumulation of such debt adds to Nigeria’s overall public debt burden, raising questions about debt sustainability.

The World Bank had approved a total of $8.40bn in fresh loans to Nigeria over the past two years, according to data obtained from the Bank’s official website.

The approvals, covering June 2023 to August 2025, cut across 15 projects in energy, education, healthcare, rural infrastructure, and governance.

The amount comprises $1.95bn from the International Bank for Reconstruction and Development and $6.50bn from the International Development Association.

Meanwhile, data from the Debt Management Office showed that Nigeria’s total debt to the World Bank rose to $18.23bn as of March 31, 2025.

This marks a $420m increase in just three months since December 2024, when Nigeria’s total exposure to the World Bank stood at $17.81bn.

The DMO data showed that borrowings from the International Development Association, the concessional financing arm of the World Bank, rose from $16.56bn in December 2024 to $16.99bn in March 2025.

At the same time, loans from the International Bank for Reconstruction and Development — the non-concessional lending window of the World Bank — remained unchanged at $1.24bn. In total, the World Bank Group now accounts for $18.23bn, or about 39.7 per cent of Nigeria’s total external debt stock, which stood at $45.98bn as of March 2025.

This reflects a marginal increase in the World Bank’s share of the debt portfolio, up from 38.9 per cent recorded in December 2024 and 36.4 per cent at the end of 2023. Further analysis indicates that the World Bank now constitutes 81.2 per cent of Nigeria’s total multilateral debt, which reached $22.43bn in Q1 2025.

This represents a rise from the 79.8 per cent share recorded at the end of 2024 and underlines the central role the institution continues to play in Nigeria’s financing framework.

Economist and CEO of the Centre for the Promotion of Private Enterprise, Dr Muda Yusuf, earlier said that the rising World Bank commitments to Nigeria should be examined within the context of the country’s Medium-Term Expenditure Framework and annual budgets, which already provide for both domestic and foreign borrowing.

He noted that deficit financing is a common feature of budgets worldwide and is not inherently wrong, as it allows governments to make critical investments without waiting to generate all the required revenue upfront.

However, he stressed that borrowing should always be backed by sound economic reasoning and clear development priorities. Yusuf emphasised that the key issue is debt sustainability, which depends primarily on the country’s revenue capacity to service its obligations.

Without a strong cash flow to meet repayment schedules, he warned, Nigeria risks falling into a vicious cycle of borrowing to service existing loans, which would perpetuate fiscal vulnerability.

He said it is essential that projects funded by loans directly support the economy’s capacity to repay. According to him, Nigeria should be cautious with foreign loans due to the exchange rate risks they pose, noting that domestic debt is generally easier to manage.

Excessive foreign borrowing, he warned, could put pressure on the country’s reserves and further weaken the exchange rate. He stressed that a disciplined approach to debt sustainability will be crucial for Nigeria to avoid long-term fiscal distress.

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Rivers DPOs Receive Awards For Outstanding Performance In Crime Prevention …As Students, Media Group Honour CSP Worgu, CSP Yusuf

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Two Divisional Police Officers (DPOs) in Rivers State have been honoured by separate groups for their contributions to security, crime prevention and improved community-police relations in their respective areas of responsibility.

The beneficiaries are the DPO of Afam Police Division, CSP  Endurance Worgu and his counterpart at Oyigbo Police Division, CSP Bello Yusuf.

CSP Worgu was honoured by a group of students under the aegis of Rivers State Graduate Students Associations for what they described as his commitment and outstanding performance in the discharge of his duties.

The students, led by  Chidi John Enyie, Esq. said CSP Worgu was selected based on his track record and status as one of the longest-serving young DPOs of Rivers State origin.

According to the group, CSP Worgu has made significant contributions to the protection of lives and property in the area since assuming office following the #EndSARS period.

The students said they were particularly impressed by the improvement in community-police relations under his leadership, noting that professionalism had remained a key feature of his service.

Enyie represented by Comrade Briggs Soku, said the students community was pleased to identify with a Rivers indigene who had distinguished himself in the police force.

He said the students considered it necessary to encourage and celebrate CSP Worgu because of his achievements as a young Rivers man excelling in a profession that many people from the state were often reluctant to join.

Receiving the award at his office in Afam, CSP Worgu expressed gratitude to God and the students for finding him worthy of the honour.

The DPO said the recognition had boosted his morale and encouraged him to sustain his efforts towards maintaining peace and security in the area.

He said he least expected the honour, particularly because it came from the students, adding that the recognition would further motivate him to serve the people better.

CSP Worgu assured residents of Afam that the police would sustain the existing peace in the area.

He appealed to members of the public to support the police by providing credible and timely information, stressing that useful information from residents would make the job of security personnel easier.

Meanwhile, the Ikwerre/Etche Media Association has also honoured the DPO of Oyigbo Police Division, CSP Bello Yusuf, for his efforts in tackling criminal activities in the area.

The media group presented the award following the swift tracking and arrest of five suspected kidnappers who had allegedly terrorised residents of the Kom-Kom axis and other parts of Oyigbo.

The group commended CSP Bello for what it described as his determined efforts to restore confidence and security in the affected communities, particularly Kom-Kom and Obeama.

According to the group, the arrest of the suspects demonstrated the DPO’s commitment to tackling criminality and safeguarding residents.

The media association said residents had received the development with relief, noting that the police action had sent a strong message to criminal elements operating in the area.

Responding, CSP Yusuf appreciated the group for the recognition and reaffirmed that there would be no room for criminality in Oyigbo.

He also commended the media for its role in disseminating credible information to the public, saying the media had remained supportive of the police in the fight against crime.

CSP Yusuf warned criminal elements operating in Oyigbo to leave the area or be prepared to face the full weight of the law.

He assured residents that the police would continue to pursue criminals and work to dismantle their hideouts, regardless of where they might be operating.

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College Of Bishops Endorses Tinubu, APC Candidates  For 2027 Polls

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The 5000 Achievers Christian Forum and Colleges of Bishops, Archbishops and Apostles, a Christian interdenominational organisation, has endorsed President Bola Ahmed Tinubu and all candidates of the All Progressives Congress (APC) in Rivers State for the 2027 general elections.

International President of the forum, Archbishop Lucky Aroh, disclosed this during the ordination and consecration of three new Bishops, as well as an award ceremony held in Port Harcourt.

Aroh said the performance of the APC-led Federal Government had endeared the party to the organisation, prompting the forum to declare its support for President Tinubu and other APC candidates in Rivers State.

He said the forum would support all APC candidates in the state during the 2027 elections and urged Nigerians to vote for the party.

Aroh, who is also the General Overseer of Caring Peoples Church, Port Harcourt, charged the newly consecrated Bishops to see their new positions as a great responsibility and dedicate themselves to the advancement of the kingdom of God.

He cautioned them against conduct capable of bringing their offices into disrepute, stressing that their activities would be closely watched by members of the public.

“As Bishops, the eyes of the public are on your activities. You must therefore conduct yourselves in a manner worthy of your calling,” he said.

Also speaking, the International Coordinator of the forum, Bishop Saint Robinson, urged the newly consecrated Bishops to work diligently towards winning souls for the kingdom of God.

Robinson, who was the guest speaker at the event, stressed that the activities of Bishops must at all times be guided by godly principles.

He also called on members of the church to support and cooperate with the newly consecrated Bishops in the discharge of their responsibilities.

The Secretary of the College, Apostle Elizabeth Ayadi Abaye, said the organisation was established to advance the kingdom of God and promote spiritual development.

According to her, the forum has organised several crusades, conferences, prayer meetings, ordinations, consecrations, enthronements, empowerment programmes and other spiritual development activities across the country as part of efforts to win souls for Christ.

Abaye said the organisation has members across the world and disclosed that more programmes had been scheduled to promote the spiritual development and wellbeing of humanity.

The three Bishops consecrated at the ceremony were Prince Alban Chike, Testimony Omenihu Shedrach and Prince Ifemena.

Among those honoured at the event were the Chairman of the Community Development Committee (CDC), Abali Community, Port Harcourt City Local Government Area, Manuchimso Prince Lemmy Wopara, and Clifford Oko Jaja, Coordinator of the 5,000 House-to-House for President Tinubu.

By: John Bibor

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Police Arrest Fake Soldier, Others For Armed Robbery, Kidnapping

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The Rivers State Police Command has arrested a 49-year-old suspected fake soldier, Andrew Atausi, and several other suspects in connection with various criminal activities, including kidnapping, armed robbery, cultism, one-chance robbery and the alleged murder of police officers.

The State Commissioner of Police, CP Olugbenga Adepoju, disclosed this in Port Harcourt, recently during a press briefing at the Command Headquarters, where he said the arrests formed part of the operational achievements recorded by the Command between June and August 2026.

Adepoju said Atausi was arrested on August 10 by police operatives along Ada George, Port Harcourt, while dressed in military uniform and driving a Toyota Hilux painted in Army colours.

The Commissioner said investigation revealed that Atausi was not a member of the Armed Forces, adding that he was suspected to be a serial car snatcher, with three suspected stolen vehicles recovered from him.

He said the recovered vehicles included three Toyota Hilux vehicles without registration numbers and a Toyota Corona Premio with registration number BNY 380 ES, noting that the chassis and engine numbers of the vehicles had allegedly been tampered with.

Adepoju added that an axe and military accoutrements were also recovered from Atausi, as investigation continued into the circumstances surrounding the vehicles and other items recovered from him.

On the June 29 attack on police officers at Aluu Division, the Commissioner said three members of the gang allegedly responsible for the incident had been arrested by operatives of the Violent Crime Response Unit, VCRU-AKU.

The suspects, identified as Maduabuchi Emeka, 34, alleged gang leader; Doctor Chinedu Owhor, 42, and Kamachi Joe, 28, alleged armourer, reportedly led operatives to their hideout at Omagwa where two AK-47 rifles stolen during the attack were recovered.

Adepoju recalled that two police officers were killed during the Aluu attack, while others were wounded and one officer had his leg amputated, stressing that efforts were ongoing to apprehend the fourth suspect.

On kidnapping, the Commissioner said five members of a suspected kidnapping syndicate were arrested in Oyigbo Local Government Area, adding that they allegedly confessed to operations in Kom-Kom, Railway, Obeama and Afam communities.

He said two other suspects from the same network, Anele Ogbogu, 35, alleged to be the gang’s armourer, and Kenneth Eke, 38, were arrested on July 27, with one AK-47 rifle and one SMG rifle recovered.

The Commissioner further disclosed the arrest of suspects in connection with alleged firearm offences, armed robbery, cultism and one-chance robbery, with firearms, ammunition and other exhibits recovered during the operations.

Adepoju assured residents that the Command would sustain intelligence-led, proactive and community-oriented policing in collaboration with other security agencies, while urging members of the public to continue providing credible information that would assist the police in combating crime across Rivers State.

By; King Onunwor

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