Nigeria’s outstanding bilateral loans from China have reached $5.7 billion, according to the World Bank, highlighting the country’s continued reliance on external borrowing to finance infrastructure and other development projects.
The figure represented approximately 85 per cent of Nigeria’s total bilateral debt of $6.68 billion owed to foreign governments.
France ranked as the country’s second-largest bilateral creditor, with $774 million, while other bilateral lenders accounted for $237 million. Punch Newspapers +1
The World Bank’s International Debt Report 2026 showed that Nigeria’s total external debt increased by 6.6 per cent to $145.02 billion in 2025, compared with $136.05 billion recorded in 2024.
Of the country’s $62.4 billion public and publicly guaranteed external debt, multilateral creditors accounted for $31.37 billion, while private creditors held $24.35 billion.
The World Bank’s data also showed that Nigeria’s external debt had increased from $83.21 billion in 2015 to $145.02 billion in 2025, representing a rise of about 74.3 per cent over the decade.
Meanwhile, the country’s external debt service-to-exports ratio rose to 19 per cent in 2025, while debt service relative to Gross National Income stood at five per cent, reflecting the pressure of repayment obligations on the economy.
The report further showed that Nigeria’s average interest rate on new external loan commitments from official creditors was 1.9 per cent, compared with 9.6 per cent for private creditors. Punch Newspapers +1
The figures come amid the Federal Government’s continued efforts to secure external financing for infrastructure and other development projects.
Sources: World Bank International Debt Report 2026; World Bank International Debt Statistics.
