The Debt Management Office (DMO) has confirmed that Nigeria owes the World Bank up to N6 trillion as reported in the media but added that debt is a positive thing. In a statement released on Tuesday, DMO noted that loans from the World Bank come from the International Development Association (IDA) and the International Bank for Reconstruction and Development (IBRD), and that the IDA loans are a positive development for Nigeria.
Nigeria’s N6Trillion Indebtedness To World Bank Is Positive, A Plus For Country, Says Debt Management OfficeIn a statement released on Tuesday, DMO noted that loans from the World Bank come from the International Development Association and the International Bank for Reconstruction and Development , and that the IDA loans are a positive development for Nigeria.
The Debt Management Office has confirmed that Nigeria owes the World Bank up to N6 trillion as reported in the media but added that debt is a positive thing.In a statement released on Tuesday, DMO noted that loans from the World Bank come from the International Development Association and the International Bank for Reconstruction and Development , and that the IDA loans are a positive development for Nigeria.
“Following media reports on Nigeria's debt to the World Bank, the Debt Management Office wishes to clarify to the general public that Loans from the World Bank come from the International Development Association and the International Bank for Reconstruction and Development .“According to the media reports, Nigeria’s indebtedness to IDA grew from USD6.29 billion in 2015 to USD13.46 billion in 2022.
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