Nigeria Seeks $1.5 Billion World Bank Loan Amid Accountability Demands

The Federal Government of Nigeria is seeking a fresh $1.5 billion in financing from the World Bank through three proposed loans, each valued at $500 million, aimed at climate resilience, early childhood development, and social protection. Alhaji Atiku Abubakar, the presidential candidate of the African Democratic Congress (ADC), has called for accountability before the loan is secured.

The proposed financing includes an additional $500 million for the Agro-Climatic Resilience in Semi-Arid Landscapes (ACReSAL) project, which is scheduled for consideration by the World Bank’s board on October 29, 2026. This additional financing would increase the total funding for ACReSAL to $1.2 billion.

The project focuses on dryland management, community climate resilience, and institutional strengthening across 19 northern states and the Federal Capital Territory. The second proposed loan is for Nigeria’s Early Childhood Development programme, set for board consideration on March 15, 2027, aimed at improving services for children aged zero to five.

The third proposed fund is for the Household Prosperity and Empowerment – Social Protection Project.