Top 10 largest creditors behind Nigeria’s $54.5 billion external debt

Nigeria's external debt stock rose to $54.52 billion by June 30, 2026, compared to $51.90 billion at the end of March 2026, marking a 5.05% quarter-on-quarter increase. During the same period, the total external debt expanded from $45.98 billion in March 2025 to $51.90 billion in March 2026, indicating a 12.90% year-on-year rise.

Among Nigeria's top creditors, the International Development Association (IDA) of the World Bank Group held the largest position, accounting for 35.07% of the country's external debt. Eurobond investors contributed another 34.02%, together representing 69.09% of the total debt. Multilateral institutions collectively accounted for the largest source of external financing for Nigeria.

When considering China Exim Bank and the AfDB Group, multilateral institutions' share reached 87%. The China Development Bank and China Exim Bank combined for 10.1% of Nigeria's external debt. The African Export-Import Bank (Afreximbank) held $835.78 million in loans, constituting 1.53% of the total debt. Agence Française de Développement (AFD) was owed $906.23 million, representing 1.66% of the external debt.

The African Development Fund (ADF), a concessional arm of the AfDB Group, was owed $1.01 billion, making up 1.85% of the external debt. The International Bank for Reconstruction and Development (IBRD), a World Bank Group arm, was owed $1.61 billion, accounting for 2.95% of the debt stock.