Nigeria in Advanced Talks for $1.25bn World Bank Loan to Boost Reforms
Nigeria is in advanced negotiations with the World Bank for a new $1.25 billion loan aimed at driving economic reforms, investment growth and job creation under President Tinubu’s administration. The programme, named Nigeria Actions for Investment and Jobs Acceleration, would back critical reforms in finance, electricity, digital services, agriculture, taxation and trade. If approved by the World Bank Board on June 26, 2026, it would rank among the country’s largest recent loans from the lender. Concerns persist over Nigeria’s rising external debt, which stood at about $51.86 billion as of December 2025, and total public debt nearing $111 billion. Since mid-2023, the World Bank has approved roughly $9.35 billion in credits for power, healthcare, education and other sectors. The Accountant-General has warned that lengthy approval and disbursement delays could force Nigeria to rethink future borrowing. He urged faster release of funds to align with national project timelines and fiscal planning.
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