The World Bank is preparing to approve three major loan projects for Nigeria in 2025, totaling $1.65 billion.
These loans aim to address critical developmental challenges, including support for internally displaced persons, education, and nutrition enhancement.
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According to information on the World Bank’s website, these loans are part of its ongoing efforts to aid Nigeria’s social and economic recovery.
Proposed Loan Projects
1. Solutions for Internally Displaced and Host Communities Project
Amount: $300 million
Approval Date: April 8, 2025
- This project will offer sustainable solutions to the challenges faced by internally displaced persons and their host communities.
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2. HOPE for Quality Basic Education for All
Amount: $553.8 million
Approval Date: March 20, 2025
- Aimed at enhancing access to quality education, this project is still in the concept review phase.
3. Accelerating Nutrition Results in Nigeria 2.0
Amount: $800 million
Approval Date: February 20, 2025
- Focused on improving nutrition outcomes, this project represents the largest share of the proposed funding.
Meanwhile, under President Bola Tinubu’s administration, Nigeria has already secured $6.95 billion in loans from the World Bank over 18 months
Notable projects include:
$750 million for Power Sector Recovery Performance-Based Operation.
$700 million for the Adolescent Girls Initiative for Learning and Empowerment.
$750 million for Distributed Renewable Energy Scale-up.
$2.25 billion for economic stabilization and resource mobilization reforms.
Nigeria’s external debt to the World Bank totals $16.32 billion, representing 38% of the nation’s external debt, according to the Debt Management Office.
Additionally, the Federal Government spent $3.58 billion on foreign debt servicing in the first nine months of 2024, highlighting growing fiscal pressures.
Despite these challenges, the World Bank’s continued financial support underscores its confidence in Nigeria’s potential for reform and sustainable development.
