The Federal Government is seeking a fresh $1.5 billion loan from the World Bank as part of efforts to support key development programmes and strengthen economic reforms.
Findings from the World Bank’s project pipeline indicate that the proposed financing is expected to support initiatives in education, nutrition, resilience, and economic growth across the country.
The loan request comes amid growing concerns over Nigeria’s rising debt profile and increasing dependence on external borrowing.
According to information published by the World Bank, the proposed facilities are at various stages of processing and are expected to be presented for approval between 2026 and 2027.
The projects are designed to improve human capital development, strengthen social protection systems, and enhance economic opportunities for vulnerable populations.
The latest request adds to several loans obtained by Nigeria from the World Bank in recent years to finance infrastructure, social investment, healthcare, education, and governance reforms.
Economic analysts have continued to express concern over the country’s debt burden, urging the government to ensure that borrowed funds are channelled into productive sectors capable of generating sustainable economic returns.
The Federal Government, however, has maintained that concessional loans from multilateral institutions such as the World Bank are necessary to bridge financing gaps, support development projects, and stimulate economic growth.
Nigeria remains one of the World Bank’s largest borrowers in Africa, with the institution supporting multiple projects across sectors including agriculture, education, healthcare, energy, and social protection.
The proposed $1.5 billion facility is expected to undergo further appraisal and approval processes before disbursement.
