Nigeria Owes World Bank Group, IMF, AfDB $20.8Billion; China, $4.7Billion

The African country also owed international financial institutions – World Bank Group, African Development Bank Group and International Monetary Fund – $20.8 billion as of that time, according to data from the Debt Management Office.

This amounts to 48.17 percent of the total debt profile.

Under the World Bank Group, Nigeria owes the International Development Association about $14 billion and the Int’l Bank for Reconstruction and Development about $485 million.

Under the African Development Bank Group, Nigeria owes the African Development Bank about $1,56 billion; Africa Growing Together Fund, $20.08 million; African Development Fund; $980.86 million; Arab Bank for Economic Development in Africa $5.34 million; European Development Fund, $36.35 million; Islamic Development Bank, $153.36 million and the Int’l Fund For Agricultural Development, $265.51 million.

It owes the IMF about $3.3 billion.

The African country owes China (Exim Bank of China), which is its largest bilateral creditor $4,7 billion; France (Agence Francaise Development), $572.61 million; Japan (Japan International Cooperation Agency), $57.18 million; India (Exim Bank of India), $26.64 million and Germany (Kreditanstalt Fur Wiederaufbua), $135.26 million.

It owes $15.6 billion in Eurobonds, $931.70 million in promissory notes and $300 million in syndicated loans.

Nigeria’s total external debt stock as of June 30, 2023, is approximately $43.2 billion.