The federal government of Nigeria aims to secure $2.2 billion in new loans from the World Bank in 2025.
This initiative, outlined in the institution’s project list, specifically targets six key developmental projects.
These projects tackle critical challenges and drive economic growth across the nation.
On March 17, 2025, the World Bank will approve $500 million for the “Community Action for Resilience and Economic Stimulus Programme.”
Following that, on March 31, it will allocate $552 million to the “HOPE for Quality Basic Education for All” initiative.
Additionally, $800 million will support the “Accelerating Nutrition Results in Nigeria 2.0” program.
Moreover, on July 15, the “Solutions for the Internally Displaced and Host Communities Project” will receive $300 million. Subsequently, the “Health Security Program” will gain $300 million on August 19, further enhancing Nigeria’s development efforts.
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Additionally, the “Building Resilient Digital Infrastructure for Growth (BRIDGE)” initiative will secure $500 million after its approval on September 15.
Currently, the BRIDGE initiative and the Health Security Program are undergoing concept reviews, while the Accelerating Nutrition Results in Nigeria 2.0 and HOPE projects have progressed to the negotiation phase. This funding follows the $1.5 billion disbursed in 2024, which bolstered Nigeria’s development efforts and economic stability.
Despite these efforts, Nigeria remains one of the largest borrowers from the World Bank’s International Development Association (IDA).
As of September 30, 2024, Nigeria’s loan exposure to the IDA stood at $17.1 billion. Consequently, this amount ranked Nigeria as the third-largest borrower on the institution’s top ten debtors’ list. By December 31, 2024, this figure slightly decreased to $16.8 billion; nevertheless, Nigeria maintained its position as the third-largest debtor.
Furthermore, the upcoming projects signify a strategic investment in Nigeria’s development. They aim to address critical areas such as education, health security, digital infrastructure, and support for displaced communities.
These efforts are expected to bolster resilience and promote sustainable growth across various sectors of the economy.
