The World Bank has confirmed receipt of a fresh $1 billion loan request from the Government of Nigeria, led by President Bola Ahmed Tinubu. The loan is part of a broader initiative aimed at accelerating economic reforms, boosting job creation, and strengthening investment in critical sectors.
According to reports, the loan is being negotiated under the World Bank’s Development Policy Financing (DPF) framework, which supports countries undertaking significant policy and institutional reforms. The funds are expected to be directed toward human capital development, climate resilience, and health sector improvements, aligning with Nigeria’s medium-term economic recovery strategy.
The Tinubu administration maintains that external borrowing remains a necessary tool for bridging Nigeria’s budgetary gaps and funding transformative projects. Officials have assured the public that the loan terms are favorable and that the funds will be transparently managed.
Special Adviser to the President on Information and Strategy, Bayo Onanuga, noted that Nigeria’s revenue performance has improved significantly, with non-oil earnings now accounting for 75% of total collections between January and August 2025. This, he said, places the country on track to meet its annual revenue targets.
While some economic analysts have raised concerns about Nigeria’s rising debt profile—now exceeding ₦100 trillion—others argue that strategic borrowing, if well-managed, can catalyze growth and development. Civil society groups continue to call for greater transparency and accountability in the utilization of borrowed funds.