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Nigeria’s World Bank debt has increased every year since 2005
Nigeria's debt to the World Bank grew from $182 million in 1970 to nearly $15 billion by 2023 – an 8,100% increase. Between 2005 and 2023, it rose by 705%, highlighting Nigeria's reliance on World Bank financing for development. As of Q1 2024, Nigeria owed $15.59 billion, 37% of its external debt.

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