The federal government is poised to secure a $1.5 billion loan from the World Bank, with approval expected on September 26.
This funding will support three key development projects aimed at enhancing economic stability and resource mobilization in Nigeria, focusing on healthcare, agriculture, and infrastructure.
The loan will allocate $500 million each for three initiatives: the Primary Healthcare Provision Strengthening Programme, the Human Capital Opportunities for Prosperity and Equity (HOPE) Governance project, and the Sustainable Power and Irrigation for Nigeria project.
The latter has a significantly higher overall cost of $10.75 billion.Nigeria’s external debt to the World Bank has been on the rise, with previous loans totaling $2.25 billion for various reforms and projects.
The ongoing financial support underscores the government’s commitment to addressing pressing development challenges in the country.
(The Cable)