The Tinubu-led Federal Government will secure a new $1.7 billion loan from the World Bank, with approval expected on September 26, 2024. According to Punch, this funding, which will be provided through the Ministry of Finance, will support three key development projects aimed at bolstering Nigeria's economic stability and resource mobilization.
- Primary Healthcare Provision Strengthening Programme: Allocated $500 million to enhance healthcare services.
- Human Capital Opportunities for Prosperity and Equity Governance: Also set to receive $500 million, focusing on improving education, health, and social protection.
- Sustainable Power and Irrigation for Nigeria Project: The largest share, $700 million, is dedicated to sustainable power and irrigation initiatives.
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These projects have reached the negotiation stage, the final phase before approval, indicating successful appraisal. If approved, Nigeria will have secured $3.95 billion in loans from the World Bank this year, totalling $6.65 billion under President Bola Tinubu's administration.
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