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HEADLINE: FEC Approves $396m Loans for Northern IDPs, Sokoto Health Project

The Federal Executive Council (FEC) has approved two external loan facilities totaling $396 million to finance humanitarian and healthcare development projects in northern Nigeria.

The approval was announced by the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, after Thursday’s FEC meeting chaired by President Bola Tinubu at the Presidential Villa, Abuja.

According to Edun, the first facility is a $300 million credit from the World Bank intended to support internally displaced persons (IDPs) and host communities across several states in the northern region.

The second loan, valued at $96 million, will be jointly funded by the Islamic Development Bank (IsDB) and the African Development Bank (AfDB), with contributions of $50 million and $46 million, respectively. The funds will be directed toward the Sokoto Health Infrastructure Project, while the Sokoto State Government will provide counterpart financing.

Edun explained that the loans are designed to help rebuild communities affected by conflict, improve living conditions for displaced populations, and enhance healthcare delivery systems in the region.

He noted that both facilities are concessional and form part of the government’s broader strategy to promote recovery, strengthen resilience, and advance sustainable development in conflict-impacted northern states.