The World Bank has approved three new loan requests from the Nigerian government, totaling $1.57 billion, to address key governance challenges in education, healthcare, and climate resilience. The announcement, made on September 30, 2024, highlights support for primary healthcare improvements and dam safety and irrigation infrastructure.
This financing package includes a $1.5 billion loan and a $70 million grant, aimed at boosting productivity, reducing poverty, and enhancing critical sectors. However, this development adds to Nigeria’s debt burden, which stood at N121.67 trillion as of March 2024, according to the Debt Management Office.
