FG SEEKS FRESH $1.5BN WORLD BANK FINANCING

The Federal Government is in discussions with the World Bank over three proposed loans totalling $1.5bn to support climate resilience, social protection and early childhood development programmes.

Documents from the World Bank show that the proposed financing consists of three separate $500m facilities.

The first facility is an additional $500m for the Agro-Climatic Resilience in Semi-Arid Landscapes project, known as ACReSAL. The funding would support landscape restoration, flood and erosion management, irrigation, drainage, reforestation and other climate-resilience measures across northern Nigeria and the Federal Capital Territory.

The second proposed $500m facility is for the Household Prosperity and Empowerment-Social Protection Project. It is designed to strengthen social assistance for poor and vulnerable households through cash transfers, an improved social registry and stronger implementation systems.

The third $500m facility would support the Nigeria Early Childhood Development programme, which would operate across all 36 states and the FCT. The programme is expected to improve access to healthcare, nutrition, early learning, childcare, water and sanitation services for children aged zero to five.

The proposed borrowing comes as Nigeria’s total public debt reached N166.79tn at the end of June 2026, according to figures from the Debt Management Office. The amount represented a N14.39tn increase from N152.40tn recorded in June 2025.

The World Bank’s consideration of the ACReSAL additional financing is currently scheduled for October 29, 2026, while the other two facilities are expected to undergo further preparation before proposed consideration in March 2027.