Nigeria's Government Seeks $1.5bn World Bank Loans

The Federal Government of Nigeria is seeking $1.5 billion in new financing from the World Bank as the country's public debt has surged to N166.79 trillion. This represents an increase of N14.39 trillion, or 9.44 percent, from N152.40 trillion in June 2025 to N166.79 trillion at the end of June 2026.

The proposed financing includes three separate $500 million facilities aimed at enhancing climate resilience, social protection, and early childhood development. The first facility is for the Agro-Climatic Resilience in Semi-Arid Landscapes project (ACReSAL), which would raise its total funding from $700 million to $1.2 billion, focusing on landscape restoration and water management in 19 northern states and the Federal Capital Territory.

The second facility targets the Household Prosperity and Empowerment-Social Protection Project (HOPE-SP), aimed at expanding cash transfers and modernizing the social registry. The third facility is for a Nigeria Early Childhood Development programme, supporting services for children aged zero to five.

The World Bank is expected to consider these proposals on October 29, 2026, with further projects anticipated to reach the board in March 2027.