From Adanna Nnamani, Abuja
Nigeria is poised to receive a N2.2 billion World Bank loan in 2025.
The money is allocated to six key development projects aimed at strengthening economic resilience, improving healthcare and education and expanding digital infrastructure. According to the global lender, the funding will support initiatives designed to accelerate inclusive growth and address critical socio-economic challenges across the country.
Among the projects slated for financing is the Community Action for Resilience and Economic Stimulus Programme, which is expected to receive $500 million upon approval in March. The HOPE for Quality Basic Education for All initiative and the Accelerating Nutrition Results in Nigeria 2.0 project, both scheduled for approval by the end of March, will receive $552 million and $800 million, respectively, to enhance educational access and combat malnutrition. In July, the World Bank is expected to approve $300 million for the Solutions for Internally Displaced and Host Communities Project, aimed at providing much-needed relief and support for displaced populations and their host communities.
Further funding includes a $300 million allocation for the Health Security Programme, scheduled for approval in August, to strengthen Nigeria’s healthcare system and preparedness against health emergencies. The final project, Building Resilient Digital Infrastructure for Growth (BRIDGE), set for approval in September, will receive $500 million to drive digital transformation and enhance technological capacity in the country.
While the BRIDGE initiative and the Health Security Programme are still in the early concept review stage, undergoing assessment and planning, the Accelerating Nutrition Results in Nigeria 2.0 and the HOPE for Quality Basic Education for All initiatives have advanced to the negotiation stage, bringing them closer to implementation.
This new funding follows Nigeria’s recent financial engagements with the World Bank, including the $1.5 billion secured in 2024 to support economic stabilization and resource mobilization. As of September 30, 2024, Nigeria’s loan exposure under the International Development Association (IDA) stood at $17.1 billion, making it the third-largest borrower. By December 31, 2024, the figure had slightly decreased to $16.8 billion, but the country retained its position as the third-highest debtor on the World Bank’s list.
Once approved, these loans are expected to play a vital role in revitalising Nigeria’s economy, strengthening essential public services, and promoting sustainable development. Investments in education and healthcare will contribute to human capital growth, while funding for displaced communities will provide crucial support to vulnerable populations. The BRIDGE initiative is expected to accelerate Nigeria’s digital transformation, fostering innovation and economic diversification.
While these financial commitments present an opportunity for progress, economic experts emphasize the importance of sustainable debt management, transparent implementation, and accountability to ensure the funds deliver measurable benefits to Nigerians.
