The Federal Government plans to secure six new World Bank loans worth $2.23bn in 2025, supporting key reforms.
These additional loans will raise Nigeria’s total approved loans from the World Bank to $9.25bn over three years.
Funding reflects Nigeria’s growing reliance on multilateral support to strengthen infrastructure, healthcare, education, and economic resilience.
Under President Bola Tinubu’s administration, loan approvals surged, with $2.7bn secured in 2023 across critical sectors.
Key 2023 projects included a $750m renewable energy scale-up and $700m for adolescent girls’ education initiatives.
Additionally, $500m was allocated to the Nigeria for Women Programme, boosting economic opportunities for unbanked women.
The power sector recovery project also secured $750m to enhance electricity supply and financial sustainability nationwide.
Loan approvals in 2024 climbed significantly, totaling $4.32bn, driven by economic stabilization and debt management needs.
A major 2024 approval was the $1.5bn Nigeria Reforms for Economic Stabilisation to Enable Transformation programme.
This initiative aims to strengthen Nigeria’s economic framework, create fiscal space, and protect vulnerable populations.
Another notable loan was $750m for the NG Resource Mobilisation Reforms Programme to raise non-oil revenues.
Other approvals included $500m for rural access improvement and $570m for healthcare system resilience and accessibility.
The $500m Human Capital Opportunities programme targeted education and healthcare financial and human resource management.
Furthermore, $500m was allocated to strengthen dam safety, supporting water resource management for hydropower and irrigation.
For 2025, Nigeria’s six pending loans cover digital infrastructure, healthcare, education, nutrition, and community resilience.
The Building Resilient Digital Infrastructure for Growth project is set to receive $500m for broadband expansion.
This digital infrastructure expansion aligns with Nigeria’s digital economy strategy to boost nationwide connectivity.
Another key project is the $300m Nigeria Health Security Programme to enhance health emergency response capacities.
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This funding will address public health challenges, including disease outbreaks and emergency preparedness improvements.
The $300m Solutions for Internally Displaced and Host Communities Project will improve access to essential services.
Nigeria’s Accelerating Nutrition Results 2.0 project expects $80m for maternal and child nutrition improvement services.
Additionally, the $552m HOPE for Quality Basic Education for All project will strengthen foundational learning nationwide.
Finally, $500m is allocated to the Community Action for Resilience and Economic Stimulus Programme for vulnerable groups.
The negotiation processes for these loans are at various stages, with board approvals expected between March and September.
Two significant projects—the HOPE education project and Nutrition Results Programme—are scheduled for approval by March 31.
The Community Action for Resilience project is set for approval on March 17, with more approvals expected later.
