W’ BANK LOANS DRIVE TINUBU’S SOCIAL SPENDING AGENDA

World Bank loans are significantly powering President Bola Tinubu’s social spending initiatives aimed at mitigating the impact of ongoing economic reforms.

The Federal Government on Friday highlighted the role of multilateral financing in funding key programmes such as expanded cash transfers, school feeding, youth empowerment, and improved healthcare access for vulnerable groups.

Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, said the strategic borrowings have enabled the administration to sustain critical social safety nets despite fiscal pressures.

“These facilities allow us to deliver targeted interventions that protect the most vulnerable while laying the foundation for long-term inclusive growth,” Edun noted.

The government has drawn down on multiple World Bank-approved projects worth billions of dollars in recent months to support its Renewed Hope Agenda.

While commending the partnership, stakeholders have called for prudent management of the loans to avoid debt distress and ensure measurable impact on poverty reduction and human capital development.