FG SECURES $11.4BN WORLD BANK LOANS IN THREE YEARS

The Federal Government has secured a total of $11.4 billion in loans from the World Bank over the past three years to support critical infrastructure, social programmes, and economic reforms across Nigeria.

The Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, disclosed this while reviewing the country’s development partnership with the global lender. The funds have been directed towards projects in transportation, power, agriculture, health, and education sectors.

Edun noted that the loans have helped address infrastructure deficits and mitigate the impact of economic challenges. “These resources are being deployed responsibly to deliver tangible benefits to Nigerians,” he said.

The World Bank has commended Nigeria’s commitment to reforms and project implementation. However, analysts have called for stronger oversight to ensure efficient utilisation and debt sustainability.

The development reflects continued international support for Nigeria’s economic recovery and diversification agenda.