World Bank loans to Nigeria reach $8.4bn across 15 projects in energy, education, healthcare, and IDP support, boosting development efforts nationwide
World Bank loans to Nigeria have reached a total of $8.4 billion (₦12.89 trillion) between June 2023 and August 2025, marking a significant financial boost for the country’s development across multiple sectors.
Also read: Nigeria secures $6.45bn in World Bank loans under Tinubu’s government
The funding supports 15 wide-ranging projects in energy, education, healthcare, governance, rural infrastructure, and humanitarian efforts.
The loans consist of $1.95 billion from the International Bank for Reconstruction and Development (IBRD) and $6.5 billion from the International Development Association (IDA).
These figures are based on the official exchange rate of ₦1,535.93 per dollar as of August 11, 2025.
Among the newest and most impactful initiatives is a $300 million loan (₦460.78 billion) for the Internally Displaced and Host Communities Project (SOLID Project).
It aims to support up to 7.4 million people, including 1.3 million Internally Displaced Persons (IDPs), primarily in Northern Nigeria.
According to Mathew Verghis, World Bank Country Director for Nigeria, the project represents a long-term shift from short-term relief to sustainable development.
“We are glad to support this initiative… aligned with the National IDP Policy and the government’s long-term vision,” Verghis said.
Significant funding approvals in the past two years include:
- $750 million for the Nigeria Distributed Access through Renewable Energy Scale-up Project (Dec 2023)
- $700 million for the Adolescent Girls Initiative for Learning and Empowerment (Sept 2023)
$500 million each for:
- Nigeria for Women Program Scale-Up (June 2023)
- HOPE for Quality Basic Education for All (March 2025)
- Primary Healthcare Provision Strengthening Program (Sept 2024)
- Human Capital Opportunities for Prosperity and Equity Governance Project (Sept 2024)
- Rural Access and Agricultural Marketing Project – Scale Up (Dec 2024)
- Community Action for Resilience and Economic Stimulus Program (March 2025)
Additionally, the Accelerating Nutrition Results in Nigeria 2.0 Project secured $80 million (₦122.88 billion) in March 2025.
Nigeria has also received $122.19 million (₦187.56 billion) in grants:
- $70.01 million for Primary Healthcare Provision Strengthening
- $52.18 million for HOPE for Quality Basic Education
These grants complement the broader loan strategy, enabling continued investment in social sectors despite fiscal constraints.
Nigeria expects approvals for three additional loans and a grant before the end of 2025.
If approved, total World Bank commitments between June 2023 and December 2025 could rise to $9.65 billion (₦14.82 trillion), further strengthening the country’s development framework.
The scale and diversity of the World Bank loans to Nigeria underscore a deepening partnership aimed at long-term growth and resilience.
Also read: Federal government receives only 16% of approved World Bank loans under Tinubu’s administration
Through coordinated, community-driven implementation, the projects are designed to create lasting impact—from education and health to infrastructure and economic inclusion.
Source: Read more at thesun.ng
Peculiar Adirika is a journalist and contributor to Freelanews.com, covering news, business, and public affairs.
