By Muhammad Mamman
The federal government of Nigeria has moved to secure a fresh loan of approximately $1.75 billion from the World Bank, targeting major infrastructure and development gaps—even as revenue has surged.
Under the plan, the funds would be allocated to several key initiatives:
- A $500 million loan for the “Sustainable Agricultural Value-Chains for Growth” project, aimed at boosting productivity in rural areas and strengthening value-chains across agriculture.
- A $500 million facility for “Building Resilient Digital Infrastructure for Growth”, tailored to enhance Nigeria’s digital economy and connectivity.
- A $250 million contribution to a health‐security programme covering Western and Central Africa, supporting Nigeria’s preparedness for health emergencies.
- A further $500 million aimed at fostering inclusive finance for SMEs (small and medium enterprises) in Nigeria.
These borrowing ambitions come against the backdrop of a robust revenue uptick: from January to August 2025 Nigeria’s revenue rose to ₦20.59 trillion, representing a 40.5 % increase compared with the same period last year, with non-oil revenue accounting for 75 % of the total.
