Abuja, Nigeria — The Nigerian government is set to acquire six new World Bank loans amounting to $2.23 billion in 2025, reinforcing its commitment to economic development and social welfare.
This move will bring the country’s total approved World Bank loans to $9.25 billion over three years, with funding channeled into critical sectors such as infrastructure, healthcare, education, and economic resilience.
Under President Bola Tinubu’s administration, Nigeria has witnessed a surge in World Bank financial support. In 2023, the nation secured $2.7 billion for key projects, including renewable energy, women’s empowerment, and education, with notable allocations of $750 million for electricity expansion and $700 million to enhance girls’ education.
The following year, approvals climbed to $4.32 billion, driven by economic stabilization efforts. Major allocations included $1.5 billion to bolster the economy, $750 million for revenue generation reforms, and $570 million to enhance healthcare systems. Additional funding was also directed toward rural infrastructure and power sector improvements.
For 2025, the government is negotiating six new loans targeting digital infrastructure, public health, education, and social welfare. These include $500 million to expand broadband connectivity, $300 million for health security initiatives, $552 million to strengthen foundational education, and $500 million for livelihood and food security programs.
The loan approval process remains ongoing, with discussions advancing through various stages.
The statement underscores Nigeria’s continued reliance on international financial support to drive sustainable development and economic recovery.
By Taiwo Olatinwo | February 27, 2025.
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