Nigeria owes World Bank $9.81bn, says DMO

Nigeria owes World Bank $9.81bn, says DMO



Femi Asu
The total debt owed to the World Bank Group by Nigeria rose by $1.3bn in one year to $9.81bn as of September 2019, latest data from the Debt Management Office showed on Wednesday.
The International Bank for Reconstruction and Development and the International Development Association, which make up the World Bank, have over the years advanced loans to Nigeria.
The IBRD lends to governments of middle-income and creditworthy low-income countries while the IDA provides concessionary loans called credits and grants to governments of the poorest countries.
Nigerias debt to the IDA and IBRD stood at $9.41bn and N409.51…



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