World Bank Limits Comments Over Nigeria's $1.25bn Loan

The World Bank has restricted comments on its Instagram page due to backlash regarding Nigeria's proposed $1.25 billion loan. This loan is part of discussions aimed at supporting economic reforms, including initiatives in electricity expansion, digital infrastructure, agriculture, and job creation.

The loan is expected to be approved on June 26, 2026, and will be the second-largest single facility from the World Bank to Nigeria under President Bola Tinubu, following a $1.5 billion loan for economic stabilization approved in June 2024. The proposed loan translates to approximately N1.70 trillion and reflects the federal government's pursuit of external financing amid ongoing economic reforms.

Concerns have been raised about Nigeria's increasing reliance on multilateral financing and the implications for its debt profile. The World Bank has previously approved $9.35 billion in loans to Nigeria from June 2023 to May 2026 across multiple sectors, but disbursement of funds is contingent upon meeting specific policy reform conditions.