In an effort to deal with their problems of growing debt, the World Bank warned that Nigeria and other countries in sub-Saharan Africa need to diversify of their exports and fiscal reforms. This information was in its report on international debt 2025, which had just been published.

Nigeria's public debt, which includes debt exterior and interior, increased 2.01% quarter-over-quarter for reach 152.39 trillion naira (99.65 billion US dollars) in the second quarter 2025, up from 149.38 trillion naira (97.23 billion dollars) US) in the first quarter of 2025.

The government plans to borrow 17.89 trillion of nairas in 2026, according to the 2026 budget framework obtained from the Budget Office of the Federation, after recently obtaining loan approvals interiors of 1.15 trillion naira at the end of 2025 for the 2025 budget.

According to the World Bank, sub-Saharan Africa stood out from other regions after COVID-19, with debt stocks exterior increasing year by year even though production was at the lags behind, in line with regional trends from 2015 to 2024.

The Report notes that “Sub-Saharan Africa does Exception figure: both the level of debt and the weight of the service of debt continued to increase despite continued moderate growth, which highlights ongoing fiscal pressures.”

According to the Bank Globally, Nigeria recorded one of the largest surpluses in African current account balance in 2024, alongside Djibouti and Angola, against the deficits of low-income countries and intermediate, but is however found in the same group as countries with high risk such as Kenya, Mozambique, and Zambia.