Nigeria Negotiates $1.5bn Loans with World Bank for Development
The Federal Government of Nigeria has initiated discussions with the World Bank for three loans totaling $1.5bn, coinciding with a record public debt of N166.79tn as of June 2026. The financing includes three $500m facilities aimed at enhancing climate resilience, social protection, and early childhood development.
The first facility is an additional $500m for the Agro-Climatic Resilience in Semi-Arid Landscapes project (ACReSAL), with board consideration scheduled for October 29, 2026. This funding will increase ACReSAL’s total size to $1.2bn and will be implemented by the Federal Ministry of Environment.
The second proposed facility is a $500m IDA credit for the Household Prosperity and Empowerment-Social Protection Project (HOPE-SP), which is in the early preparation stage, with technical design review set for October 30, 2026, and board consideration on March 16, 2027. The Federal Ministry of Finance is the borrower for this project, which aims to establish social assistance for vulnerable households.
Plus234Feed summary based on reporting from News Online Nigeria. Read the original report below.
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