- The Federal Government is seeking a fresh $1.25 billion World Bank loan ahead of the 2027 elections to support economic reforms and investment growth.
- The proposed facility has sparked mixed reactions online, with many Nigerians raising concerns over the country’s growing debt burden.
The Federal Government has moved to secure a fresh $1.25 billion loan from the World Bank as part of efforts to support economic reforms, job creation, and investment growth ahead of the 2027 general elections.
According to reports, the proposed facility, titled Nigeria Actions for Investment and Jobs Acceleration, is expected to be presented for approval on June 26, 2026.
If approved, the loan — estimated at about ₦1.7 trillion — would rank among the largest World Bank facilities secured under President Bola Tinubu’s administration and could reportedly push Nigeria’s total public debt beyond ₦160 trillion.
According to a World Bank document, the facility is intended:
“To support the government’s efforts to expand access to finance, digital, and electricity services, and strengthen competitiveness through tax, trade, and agriculture reforms.”
The report further stated that the loan has already reached the “decision meeting stage” of the World Bank approval process, suggesting that negotiations and major conditions have largely been concluded ahead of final approval.
“The review did authorise the team to appraise and negotiate,” the document added.
Findings also revealed that the World Bank has approved about $9.35 billion in loans and credits for Nigeria between June 2023 and May 2026 across sectors including power, healthcare, agriculture, education, and economic reforms.
Should the latest facility scale through, total World Bank approvals under Tinubu’s administration could rise to approximately $10.6 billion.
Meanwhile, the Accountant-General of the Federation, Dr. Shamseldeen Ogunjimi, had earlier warned that Nigeria may reject World Bank facilities if approval processes continue to experience delays.
According to him:
“If approvals take more than six months, the Nigerian Government may no longer honour such arrangements.”
The World Bank, however, expressed concerns over political risks tied to the programme ahead of the 2027 elections.
It stated:
“Political and governance risks are elevated ahead of the 2027 elections, with pressures that could delay or reverse sensitive reforms.”
The development has since sparked reactions online, with many Nigerians expressing concerns over the country’s rising debt profile.
Reacting, @TTAYLORJOEHD wrote:
“Borrow, borrow, borrow. No serious production, no exports, only consumption. This is economic suicide.”
Another user, @presciencemode, commented:
“Nigeria government is just moving like someone that collected LAPO with the intentions of spending the money on a burial ceremony.”
@samnewton999 also questioned the continuous loans, writing:
“Why World Bank dey give them money when they know the government is not using it for what they asked for.”
Sharing frustration, @Wole_Asiwaju added:
“Make una kuku sell this country jare.”
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