Mr Atiku is worried about a report showing Nigeria as the third most indebted country to IDA.
The world’s 26 poorest economies—home to about 40 per cent of all people who live on less than $2.15 a day—are deeper in debt than at any time since 2006.
Ms Bjerde said the lender would rally donor support for a newly established crisis facility for the world’s poorest countries that face overlapping global crises, including severe climate events
Mr Obi urged the federal government to cease borrowing for consumption and instead take on loans to engage in regenerative development projects.
The fund was used to address rising inflation, deepening food insecurity, war, and the continued negative impact of COVID-19.
The World Bank in August listed Nigeria among ten countries with high debt risk exposure.
On the issue of Nigeria’s high debt profile, Rotimi Amaechi said Mr Buhari once told him, ‘let’s borrow it. They (Nigerians) can say whatever they like.”
For the first time in the bank’s history, the president said it topped $100 billion in commitments over 12 months.
A new five-year Country Partnership Framework (CPF) from 2021 to 2024 is also part of the deal.
