The Federal Government is seeking a fresh $1.25 billion loan from the World Bank to support economic reforms, investment growth, and job creation efforts.
The proposed facility, titled Nigeria Actions for Investment and Jobs Acceleration, is expected to go before the World Bank Board for approval on June 26, 2026, ahead of the 2027 presidential election.
If approved, the loan, estimated at about N1.7 trillion, would become one of the biggest World Bank facilities secured under President Bola Ahmed Tinubu’s administration and could push Nigeria’s total public debt above N160 trillion.
According to documents from the World Bank, the programme is designed to improve access to finance, electricity, and digital services while supporting reforms in tax administration, trade, and agriculture.
“The programme is aimed at supporting the government’s efforts to expand access to finance, digital and electricity services, and strengthen competitiveness through tax, trade and agriculture reforms,” the World Bank stated.
The Bank disclosed that the facility has already reached the “decision meeting stage” of its approval process, indicating that major negotiations and conditions have largely been settled.
“The review did authorise the team to appraise and negotiate,” the document added.
Checks showed that Nigeria has received about $9.35 billion in World Bank loans and credits between June 2023 and May 2026 across sectors including power, healthcare, education, agriculture, and economic reforms.
If the latest request is approved, total World Bank approvals under the Tinubu administration would rise to about $10.6 billion.
Speaking earlier on delays in loan approvals, the Accountant-General of the Federation, Shamseldeen Ogunjimi, warned that Nigeria may no longer continue with facilities that take too long to process.
“If approvals take more than six months, the Nigerian Government may no longer honour such arrangements,” he said.
The World Bank also raised concerns over possible political risks ahead of the 2027 elections.
“Political and governance risks are elevated ahead of the 2027 elections, with pressures that could delay or reverse sensitive reforms,” the Bank warned.