The Federal Government has secured 11.4 billion dollars in loan approvals from the World Bank since President Bola Tinubu assumed office in June 2023, moving closer to the total approved during former President Muhammadu Buhari’s eight-year administration.
World Bank data show that the 11.4 billion dollars approved between June 2023 and June 2026 represents about 78 per cent of the 14.59 billion dollars approved under Buhari between 2015 and 2023.
However, only about 2.32 billion dollars has been disbursed so far under the Tinubu administration, leaving more than 8.4 billion dollars yet to be released.
The approved loans are targeted at supporting economic reforms, education, healthcare, agriculture, energy, digital infrastructure, financial inclusion and social protection.
The largest single approval came in June 2024, when the World Bank approved a 2.25 billion dollar financing package to support Nigeria’s economic reforms, strengthen public finances, improve revenue generation and cushion the impact of ongoing reforms on vulnerable households.
