Nigeria borrows $6.45 Billion from World Bank in 16 months

President Bola Tinubu has secured $6.45 billion in loans from the World Bank in 16 months, as part of Nigeria’s total $24.088 billion borrowing from the bank over five years.

On September 26, 2024, the World Bank approved $1.57 billion to strengthen Nigeria's healthcare, education, and climate resilience, including $500 million for governance in education and health (HOPE-GOV), $570 million for primary healthcare (HOPE-PHC), and $500 million for irrigation and dam safety (SPIN).

These initiatives aim to enhance human capital, improve service delivery, and mitigate climate-related challenges like floods and droughts.