World Bank loan Archives - Voice of Liberty NG

FG seeks fresh $1.25bn World Bank loan

May 13, 2026May 13, 2026 Aminu Imam

The Federal Government is currently in talks with the World Bank for a fresh $1.25 billion loan, according to a leaked document. The document, titled: ‘Nigeria Actions for Investment and Jobs Acceleration’, noted that the proposed loan will finance ongoing economic reforms, job creation, and competitiveness. According to the document, talks are at the critical stage for the loan facility expected to be presented for approval on June 26, 2026. The loan has progressed beyond the initial concept and appraisal phases. If approved, it will come off as the second-largest…

Nigeria’s World Bank exposure hits $18.7bn, as public debt climbs to ₦153.29tr

February 22, 2026February 22, 2026 Aminu Imam

Nigeria’s mounting debt profile has come under renewed scrutiny, as fresh data show the country has risen to become the third-largest borrower from the International Development Association (IDA), even as its total public debt surged to ₦153.29 trillion. Figures contained in the IDA Management’s Discussion and Analysis for the period ended December 31, 2025, reveal that Nigeria’s exposure to the World Bank’s concessional lending arm rose to $18.7 billion — a $1.9 billion increase from $16.8 billion recorded at the end of 2024. The 11.3% year-on-year rise places Nigeria behind…

World Bank, Tinubu align on $1bn loan request

November 7, 2025November 7, 2025 Aminu Imam

…As Rewane calms fears over ₦1.15tr borrowing The World Bank is set to consider Nigeria’s fresh $1 billion Development Policy Financing request on December 16, a move aimed at bolstering President Bola Tinubu’s ongoing economic reforms, job creation efforts, and private sector investment drive. The loan, structured as a $500 million IDA credit and a $500 million IBRD facility, falls under the “Nigeria Actions for Investment and Jobs Acceleration’ programme — one of the flagship initiatives of the Tinubu administration’s reform agenda. If approved, the funds will be released in…

FG seeks fresh $1.75bn World Bank loan despite announcing revenue growth

September 6, 2025September 6, 2025 Aminu Imam

The Federal Government is preparing to secure fresh financing from the World Bank to the tune of $1.75bn, even after celebrating a sharp increase in national revenues. Recall that President Bola Tinubu had on Tuesday declared that Nigeria had already surpassed its 2025 revenue targets. The Presidency, in its clarification of the President’s claim, said Nigeria raked-in ₦20.59trillion between January and August 2025, representing a 40.5% jump compared to ₦14.6tr recorded in the same period last year. According to Special Adviser to the President on Information and Strategy, Bayo Onanuga,…

Nigeria’s debt to World Bank’s IDA hits $18.2bn

August 18, 2025August 18, 2025 Aminu Imam

Nigeria remains the third-largest debtor to the World Bank’s International Development Association (IDA), with outstanding loans rising to $18.2bn as of June 2025, up from $16.5bn a year earlier. This marks a rise from $16.5bn in June 2024, representing a $1.7bn—or roughly 10.3 percent—increase within one year. The latest figures from the IDA’s financial statements show that Nigeria first climbed to third place in 2024, up from its previous position as the fourth-largest borrower in 2023, and has maintained this ranking into 2025. Bangladesh tops the list with $22.6bn, followed…

Kaduna: Communities decry uneven use of former Gov. el-Rufa’i’s $350m World Bank loan

May 10, 2025May 10, 2025 Aminu Imam

Residents and stakeholders in Kaduna State are raising alarms over the alleged uneven disbursement of a $350 million World Bank loan secured by former governor Nasir el-Rufai’s administration for urban renewal projects. Twelve local government areas – including Birnin-Gwari, Giwa, Kajuru, and Zangon-Kataf – are reportedly yet to benefit from the loan, despite ongoing repayments. Investigations reveal that many projects in these areas were either never started or abandoned after ceremonial flag-offs. Community members and civil society groups accuse the previous government of focusing spending on Kaduna-North LGA, leaving poorer…

‘Reject World Bank advice or risk implosion’ – Nigerians warn Tinubu

October 20, 2024October 20, 2024 Aminu Imam

�Say, many people on the streets are walking corpses Nigerians from different strata of life have warned President Bola Tinubu that he would face the threat of implosion by angry citizens should the Federal Government go ahead with the World Bank�s advice to sustain the prevailing stinging reforms for the next 10 to 15 years. Recall that last Tuesday, the World Bank Senior Vice-president, Indermit Gill, declared in Abuja at the Nigeria Economic Summit, among others, that it would take at least 10 or 15 years for President Bola Tinubu�s…

FG seeks fresh World Bank $2bn loan

September 7, 2024September 7, 2024 Aminu Imam

The Federal Government has begun a process to obtain a fresh $2billion loan from the World Bank. According to documents posted on the website of the international lender, the loan request submitted by the Ministry of Finance on behalf of the government is currently undergoing concept review, an appraisal stage that will lead to further negotiation and approval. It revealed that the Government made four loan requests for infrastructural projects. The proposed loan projects, targeting crucial sectors such as healthcare, agriculture, and infrastructure, are pivotal for the country�s sustainable development…

“Probe $1.5bn W’Bank loan to States, $3bn Chinese loan” – SERAP urges Tinubu

August 12, 2024August 12, 2024 Aminu Imam

The Socio-Economic Rights and Accountability Project, (SERAP), has called on President Bola Tinubu to instruct the Attorney-General of the Federation (AGF) and Minister of Justice, Lateef Fagbemi (SAN), along with relevant anti-corruption agencies, to conduct a thorough investigation into the use of a $1.5 billion World Bank loan and a $3 billion Chinese loan. In an open letter dated August 10, 2024, signed by its Deputy Director Kolawole Oluwadare, SERAP said it is concerned about potential mismanagement and corruption related to these loans, arguing that if there is sufficient evidence,…

FG still repaying $10.6bn loans obtained by former presidents’ – World Bank

August 11, 2024August 11, 2024 Aminu Imam

The World Bank Group (WBG) Finances has revealed that the Federal Government is still repaying $10.6bn in loans obtained under former Presidents Olusegun Obasanjo, the Late Umaru Musa Yar’Adua, and Goodluck Jonathan. Recall that in June 2024, the Debt Management Office, ((DMO), said as of March 31, 2024, Nigeria�s domestic and external debts stood at N121.67trn ($91.46bn). The domestic debt was put at N65.65trn ($46.29bn), while external debt stood at N56.02trn ($42.12bn). It was gathered that part of the foreign debt was the $4.95bn in loans obtained by the current…