By Taiwo Osho

Over the past two years, the World Bank approved a total of $8.40bn (N12.89tn) in fresh loans to Nigeria.

According to data obtained from the bank’s official website, the approvals covered June 2023 to August 2025 and cut across 15 projects in energy, education, healthcare, rural infrastructure, and governance.

Breakdown of Funding

At the official exchange rate of N1,535.93/$ as of August 11, 2025, the loans comprised $1.95bn (N2.99tn) from the International Bank for Reconstruction and Development and $6.50bn (N9.98tn) from the International Development Association.

Support for Displaced Communities

The World Bank recently approved a new loan of $300m (N460.78bn) for the Internally Displaced and Host Communities Project.

This project aims to strengthen resilience and expand access to essential services for Internally Displaced Persons (IDPs) and their host communities in Northern Nigeria.

It is expected to benefit up to 7.4 million people, including about 1.3 million IDPs, by adopting an integrated development strategy aligned with Nigeria’s long-term development vision.

In addition, the initiative will enhance access to services and economic opportunities for IDPs and host communities in selected Local Government Areas in Northern Nigeria.

Bank’s Position

The World Bank explained, “By adopting an integrated development strategy, the SOLID Project seeks to help both IDPs and host communities move towards greater self-sufficiency and resilience, in line with Nigeria’s long-term development goals.”

Mathew Verghis, the World Bank Country Director for Nigeria, emphasized that the project will build on the Nigerian government’s existing initiatives, past international interventions, and the earlier World Bank-funded Multi-Sectoral Crisis Recovery Project, which focused on short-term recovery.

He said, “We are glad to support this initiative, which has tremendous potential to help Nigeria in addressing development challenges associated with protracted displacement in a sustainable way.”

He further added, “The project’s integrated approach, aligned with the National IDP Policy and the Federal Government’s long-term vision, will ensure that IDPs and host communities can transition from dependency on humanitarian assistance to self-reliance and resilience, opening up better economic opportunities.”

The bank also clarified that the project would be implemented through a coordinated, community-driven approach involving all tiers of government, with strong collaboration from international stakeholders.

Other Major Approvals

In December 2023, the bank approved another $750m (N1.15tn) facility for the Nigeria Distributed Access through Renewable Energy Scale-up Project to expand private sector-led access to clean and reliable electricity.

Likewise, the education sector received $700m (N1.07tn) in September 2023 for the Additional Financing for the Adolescent Girls Initiative for Learning and Empowerment, aimed at improving secondary education opportunities for girls in participating states.

The Nigeria for Women Program Scale-Up Project secured $500m (N767.97bn) in June 2023 to institutionalise women’s economic empowerment platforms and improve opportunities for unbanked women.

Similarly, in March 2025, the HOPE for Quality Basic Education for All Project attracted $500m (N767.97bn) to improve foundational learning outcomes and strengthen education systems.

Healthcare and Nutrition Projects

In September 2024, the World Bank approved $500m (N767.97bn) each for the Primary Healthcare Provision Strengthening Program and the Human Capital Opportunities for Prosperity and Equity Governance Project.

Additionally, in March 2025, it committed $80m (N122.88bn) to the Accelerating Nutrition Results in Nigeria 2.0 Project.

Rural Infrastructure and Livelihood Support

Funding also targeted infrastructure. In December 2024, the Rural Access and Agricultural Marketing Project – Scale Up received $500m (N767.97bn) to improve rural connectivity and resilience.

Similarly, in March 2025, the Nigeria Community Action for Resilience and Economic Stimulus Program obtained $500m (N767.97bn) to expand livelihood support and food security services.

Grants for Health and Education

Nigeria additionally received $122.19m (N187.56bn) in grants for two projects.

The Primary Healthcare Provision Strengthening Programme got $70.01m (N107.56bn), while the HOPE for Quality Basic Education for All received $52.18m (N80.20bn).

Outlook for 2025

Before the end of 2025, Nigeria expects approval for three more loans and a grant from the World Bank. If approved, these facilities could raise total commitments between June 2023 and December 2025 to $9.65bn (N14.82tn).

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