Tinubu Government Negotiates $1.25 Billion World Bank Loan

The administration of President Bola Tinubu is currently negotiating a fresh $1.25 billion loan facility with the World Bank to support economic reforms and job creation initiatives. According to documents from the World Bank, the negotiations have reached an advanced stage, with the proposal expected to be presented for approval by June 26, 2026.

This loan request is part of a broader strategy to address Nigeria's economic challenges, which include a rising debt burden; Nigeria's external debt was reported at $51.86 billion as of December 31, 2025, with total public debt climbing to $110.97 billion by June 2023. The Federal Ministry of Finance is expected to implement the proposed funding, which aims to enhance access to finance, digital services, and strengthen agricultural reforms.

Concerns have been raised by the Director of Press and Public Relations at the Federal Government, Bawa Mokwa Ogunjimi, regarding delays in loan approvals and disbursements, urging the World Bank to expedite the process to align with Nigeria's fiscal plans.