The Federal Government is set to secure six new loans totaling $2.23 billion from the World Bank in 2025, continuing the international financial institution’s support for the country’s economic and structural reforms. Data from the World Bank’s official website indicates that this will bring Nigeria’s total approved loans over the past three years to $9.25 billion, reflecting a growing dependence on multilateral funding to support critical sectors of the economy, including infrastructure, healthcare, education, and economic resilience.
An analysis of Nigeria’s loan approvals from the World Bank since 2023, under the administration of President Bola Tinubu, shows a significant increase in funding commitments. In 2023, the World Bank approved loans amounting to $2.7 billion, which primarily targeted projects in renewable energy, women’s empowerment, education, and the power sector. Among the projects approved that year was the Nigeria Distributed Access through Renewable Energy Scale-up Project, which received $750 million to expand private sector-led access to reliable electricity services for households, public institutions, and commercial customers.
Another notable loan approved in 2023 was the Additional Financing for the Adolescent Girls Initiative for Learning and Empowerment, valued at $700 million, aimed at improving secondary education opportunities for girls in targeted areas. The World Bank also approved $500 million for Nigeria for Women Programme Scale-Up Project, which sought to institutionalise Women Affinity Groups and enhance economic opportunities for unbanked women.
Additionally, the Nigeria – AF Power Sector Recovery Performance-Based Operation received $750 million to improve electricity supply reliability, achieve financial sustainability, and enhance accountability in the power sector. In 2024, funding approvals significantly surpassed those of the previous year, with $4.32 billion allocated to various projects.
This increase was largely driven by Nigeria’s growing need for financial assistance to stabilize the economy amid mounting fiscal pressures and rising public debt. Among the largest approvals in 2024 was the Nigeria Reforms for Economic Stabilization to Enable Transformation Development Policy Financing, which received $1.5 billion. This funding aimed to strengthen Nigeria’s economic policy framework by creating fiscal space and protecting vulnerable populations.
Another major loan approval was the NG Accelerating Resource Mobilization Reforms Programme for Results, which was allocated $750 million to raise non-oil revenues and safeguard oil and gas revenues. Other key approvals in 2024 included the Rural Access and Agricultural Marketing Project – Scale-Up, which received $500 million to improve rural access and climate resilience, and the Nigeria Primary Healthcare Provision Strengthening Programme, which received $570 million to enhance the utilization of essential healthcare services and improve health system resilience.
The Nigeria Human Capital Opportunities for Prosperity and Equity – Governance initiative was also approved in 2024, securing $500 million in funding to strengthen financial and human resource management in the basic education and primary healthcare sectors. The Sustainable Power and Irrigation for Nigeria Project, aimed at enhancing dam safety and managing water resources for hydropower and irrigation, was allocated $500 million. So far, a total of ten loan projects have been approved by the World Bank under President Bola Tinubu’s administration.
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For 2025, Nigeria aims to secure six new loans from the World Bank, with a combined value of $2.23 billion. The planned loans will focus on key sectors such as digital infrastructure, healthcare, education, nutrition, and community resilience. Among the new projects in the pipeline is the Building Resilient Digital Infrastructure for Growth initiative, which is expected to receive $500 million to expand broadband internet access in underserved areas of the country.
This project aligns with the Federal Government’s digital economy strategy, which seeks to improve connectivity and enhance economic opportunities through the expansion of high-quality digital infrastructure. Another significant loan expected to be approved in 2025 is the HOPE for Quality Basic Education for All project, projected to receive $552 million to improve foundational learning outcomes, increase access to basic education, and strengthen education systems in participating states.
The final project under consideration for approval is the Nigeria Community Action for Resilience and Economic Stimulus Programme, which is expected to secure $500 million to expand access to livelihood support, food security services, and grants for poor and vulnerable households and firms.
The negotiation process for these projects is currently at various stages, ranging from concept reviews to decision meetings. The BRIDGE initiative and the Health Security Program are at the concept review stage, indicating they are still in the early phases of assessment and planning. Meanwhile, projects such as the HOPE for Quality Basic Education are progressing through the approval process.
