President Bola Tinubu’s is seeking a fresh $1.5 billion loan from the World Bank.
The administration of President Bola Tinubu has opened discussions with the World Bank for three new concessional loans totaling $1.5 billion.
According to project documents from the Washington-based lender on September 28, 2026, the new funding requests are intended to address pressing domestic sectors such as climate resilience, social safety nets, and early education.
This fresh borrowing effort comes as the Debt Management Office (DMO) recently reported that Nigeria’s total public debt surged to a record high of ₦166.79 trillion at the end of June 2026.
The proposed financing package is structured into three separate $500 million programs from the International Development Association (IDA), the World Bank’s concessional lending arm:
1. Agro-Climatic Resilience in Semi-Arid Landscapes (ACReSAL): A $500 million additional financing request targeted at scaling up land restoration, flood management, and agricultural irrigation across 19 northern states and the FCT. The World Bank board has tentatively scheduled its review for October 29, 2026.
2. Household Prosperity and Empowerment-Social Protection Project (HOPE-SP): A $500 million credit line designed to support poor and vulnerable families via conditional cash transfers and an upgraded social registry. Board review is slated for March 16, 2027.
3. Nigeria Early Childhood Development Programme: A final $500 million facility extending across all 36 states to boost nutrition, healthcare, and early learning for children aged zero to five. It is expected to go before the board on March 15, 2027.
