The World Bank is set to approve a $2.2 billion loan for Nigeria in 2025, targeting six key development projects in education, health, digital infrastructure, and economic resilience.
The Washington-based financial institution outlined the following allocations and approval timelines:
- $500 million – Community Action for Resilience and Economic Stimulus Programme (Approval: March 17)
- $552 million – HOPE for Quality Basic Education for All (Approval: March 31)
- $800 million – Accelerating Nutrition Results in Nigeria 2.0 (Approval: March 31)
- $300 million – Solutions for Internally Displaced and Host Communities Project (Approval: July 15)
- $300 million – Health Security Program (Approval: August 19)
- $500 million – Building Resilient Digital Infrastructure for Growth (BRIDGE) (Approval: September 15)
The BRIDGE initiative and Health Security Program are still in the concept review stage, undergoing initial assessment and planning. Meanwhile, the Accelerating Nutrition Results in Nigeria 2.0 and HOPE for Quality Basic Education projects have advanced to the negotiation stage.
In 2024, Nigeria secured $1.5 billion from the World Bank to support economic stability and resource mobilization.
As of September 30, 2024, Nigeria’s loan exposure to the International Development Association (IDA) stood at $17.1 billion, making it the third-largest borrower. By December 31, 2024, this figure dropped slightly to $16.8 billion, but the country remained in third place on the World Bank’s top debtors list.
Once approved, these loans are expected to boost Nigeria’s economic recovery and development efforts.
