The Nigerian government plans to secure six new loans totaling $2.23 billion from the World Bank in 2025, as the global financial institution continues to provide support for the country’s economic and structural reforms.
According to data available on the World Bank’s official website, this additional funding will bring Nigeria’s total approved loans to $9.25 billion over a three-year period. The financial assistance reflects an increasing dependence on multilateral funding to support critical areas such as infrastructure, healthcare, education, and economic stability.
A review of World Bank loan approvals since 2023, under President Bola Tinubu’s administration, indicates a notable rise in financial commitments.
In 2023, Nigeria received $2.7 billion in World Bank loans, primarily directed at initiatives in renewable energy, women’s empowerment, education, and the power sector. Among these projects was the Nigeria Distributed Access through Renewable Energy Scale-up Project, which secured $750 million to enhance private sector-led access to reliable electricity for households, public institutions, and businesses.
Another significant loan in 2023 was the Additional Financing for Adolescent Girls Initiative for Learning and Empowerment, which received $700 million to improve secondary education for girls in targeted regions. Additionally, the Nigeria for Women Programme Scale-Up Project obtained $500 million to institutionalize Women Affinity Groups and create economic opportunities for women without access to banking services. The Power Sector Recovery Performance-Based Operation was also granted $750 million to improve electricity supply, financial sustainability, and transparency within the power sector.
Loan approvals in 2024 saw a substantial increase, with Nigeria securing a total of $4.32 billion for various projects. This surge in financial support was largely attributed to the country’s growing economic challenges, including fiscal pressures and rising public debt.
A major portion of the 2024 funding came from the $1.5 billion allocated for the Nigeria Reforms for Economic Stabilization to Enable Transformation Development Policy Financing, designed to create fiscal space and safeguard vulnerable populations. Another significant allocation was $750 million for the NG Accelerating Resource Mobilization Reforms Programme for Results, aimed at boosting non-oil revenues and securing oil and gas earnings.
Additional loans approved in 2024 included $500 million for the Rural Access and Agricultural Marketing Project – Scale-Up, focused on improving rural infrastructure and climate resilience, and $570 million for the Nigeria Primary Healthcare Provision Strengthening Programme, intended to enhance healthcare service delivery and system resilience. The Nigeria Human Capital Opportunities for Prosperity and Equity – Governance initiative also secured $500 million to enhance financial and human resource management in the education and healthcare sectors.
Moreover, the Sustainable Power and Irrigation for Nigeria Project was allocated $500 million to strengthen dam safety and improve water resource management for hydropower and irrigation.
So far, under the current administration, the World Bank has approved at least ten loan projects for Nigeria.
Looking ahead to 2025, the government is negotiating six new loans, amounting to $2.23 billion, to support key areas such as digital infrastructure, healthcare, education, nutrition, and community resilience.
Among the proposed projects is the Building Resilient Digital Infrastructure for Growth initiative, which is expected to receive $500 million to expand broadband access in underserved areas, aligning with the government’s digital economy strategy. Additionally, the Nigeria Health Security Programme is set to secure $300 million to enhance regional collaboration and strengthen the country’s ability to detect and respond to health emergencies.
A further $300 million is proposed for the Solutions for Internally Displaced and Host Communities Project, aimed at improving access to essential services and economic opportunities for displaced persons and their host communities in northern Nigeria.
Another project under review is the Accelerating Nutrition Results in Nigeria 2.0 initiative, which could receive $80 million to improve access to nutrition-related services for pregnant and lactating women, adolescent girls, and young children.
The HOPE for Quality Basic Education for All project is projected to obtain $552 million to enhance foundational learning, increase access to basic education, and improve education systems in selected states.
Additionally, the Nigeria Community Action for Resilience and Economic Stimulus Programme is expected to receive $500 million to support livelihood initiatives, food security, and financial aid for vulnerable households and businesses.
The negotiation process for these loans is currently at various stages, ranging from concept reviews to final decision meetings.
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