Nigeria Seeks $1.5 Billion World Bank Loan Amid Soaring Debt
Nigeria's Federal Government is negotiating three new $500 million World Bank loans for critical development, including climate resilience and social protection. This move comes as the nation's public debt climbs to a record N166.79 trillion, highlighting urgent financial needs and strategic economic maneuvering. The financing underscores a commitment to sustainable development despite fiscal pressures.
The Federal Government has opened discussions with the World Bank for three new loans totalling $1.5bn, even as Nigeria’s public debt climbed to a record N166.79tn at the end of June 2026. Documents obtained from the World Bank show that the proposed financing comprises three sep
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