Nigeria Seeks $1.5 Billion from World Bank for Key Projects

The Federal Government is seeking $1.5 billion in financing from the World Bank through three proposed loans, each worth $500 million, aimed at social protection, early childhood development, and climate resilience. The first loan is an additional $500 million for the Agro-Climatic Resilience in Semi-Arid Landscapes project (ACReSAL), with board consideration scheduled for October 29, 2026.

The second proposed facility is the Nigeria Early Childhood Development programme, expected to be approved on March 15, 2027, which aims to enhance services for children aged zero to five across all 36 states and the Federal Capital Territory. The third loan, HOPE-SP, is intended to create a sustainable social assistance system for vulnerable households, with approval anticipated on March 16, 2027.

If approved, these loans will total $1.5 billion from the World Bank’s International Development Association (IDA). The ACReSAL financing will expand an existing $700 million project approved in December 2021, raising total financing for the programme to $1.2 billion.