Nigeria's public debt has surged to N101 trillion, fueled by recent borrowings totalling $4.95 billion from the World Bank over the past year.
According to data from the Debt Management Office , Nigeria's public debt was approximately N97 trillion as of December 2023. In the past year, the World Bank has approved several loans for Nigeria, aimed at addressing critical infrastructure and social issues. On December 14, 2023, a $750 million loan was approved to boost electricity access through distributed renewable energy solutions.
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