Tinubu Secures $11.4bn in World Bank Loans in Three Years

President Bola Tinubu's administration has secured $11.4 billion in World Bank loan approvals from June 2023 to June 2026, approaching the total of $14.59 billion approved during former President Muhammadu Buhari's eight-year tenure from May 2015 to May 2023. This amount represents 78.2% of the total financing approved under Buhari.

Tinubu's government has already surpassed the $5.56 billion approved during Buhari's first four years, achieving 105% of that figure. However, only $2.32 billion has been disbursed so far, indicating a disbursement rate of approximately 20.3%.

The loans focus on sectors such as economic reform, agriculture, education, and healthcare. Notable approvals include a $2.25 billion package aimed at supporting Nigeria's economic reform and a $1.25 billion investment job acceleration program approved on June 29, 2026.

Economists express mixed reactions regarding Nigeria's reliance on World Bank financing, with concerns about the country's rising debt profile and the efficiency of fund deployment.