Nigeria Secures $11.4bn World Bank Loans Under Tinubu

The Federal Government of Nigeria, led by President Bola Tinubu, has secured $11.4 billion in World Bank loans over a three-year period from June 2023 to June 2026. This amount exceeds the total of $14.59 billion approved during former President Muhammadu Buhari's eight-year administration.

Analysis of World Bank data indicates that Tinubu's administration has already secured 78.2% of the total financing approved during Buhari's tenure, with $3.19 billion required to exceed that record. The loans include a significant $2.25 billion financing package approved in June 2024, aimed at supporting Nigeria's economic reforms and stabilizing the economy.

The World Bank's portfolio under Tinubu focuses on large-scale economic reforms in sectors such as education, healthcare, agriculture, energy, and digital infrastructure. As of the latest update, $2.32 billion of the approved loans have been disbursed, representing a disbursement rate of 20.3%, compared to a higher rate of 81.8% during Buhari's administration.