The World Bank has approved new loans totaling $632 million to support critical sectors in Nigeria, including nutrition improvement and quality basic education, despite concerns over the country’s growing debt profile
According to details from the World Bank’s website, the funding includes $80 million for the Accelerating Nutrition Results in Nigeria 2.0 project and $552 million for the HOPE for Quality Basic Education for All program. Both projects received final approval on Monday.
These loans are part of the World Bank’s broader strategy to support Nigeria’s development agenda, with a focus on healthcare, education, and community resilience. The funds are expected to enhance the government’s efforts to improve nutrition outcomes and expand access to quality education for children across the country.
This comes just days after the World Bank approved a separate $500 million loan for Nigeria on March 28, 2025. The funds are allocated to the Community Action for Resilience and Economic Stimulus Programme, aimed at boosting economic stability by providing livelihood support, food security services, and grants to vulnerable households and businesses.
The program is designed to support communities affected by economic challenges, offering financial aid to struggling families and small businesses to help mitigate the impact of inflation and high living costs. The stimulus package also prioritizes food security and economic opportunities in the hardest-hit regions.
While these World Bank loans are expected to provide crucial fiscal relief, concerns persist over Nigeria’s rising debt burden. Recent data from the Central Bank of Nigeria shows the country has already spent $5.47 billion on debt servicing, raising questions about long-term financial sustainability.
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