World Bank Set to Approve $632 Million Loan for Nigeria Amid Rising Debt Concerns

 The World Bank is poised to approve two new loans totaling $632 million for Nigeria today, March 31, 2025. 

These funds are earmarked to support critical sectors: $80 million is allocated for the Accelerating Nutrition Results in Nigeria 2.0 initiative, aiming to combat malnutrition, while $552 million is designated for the HOPE for Quality Basic Education for All program, intended to enhance educational outcomes nationwide. 

This anticipated approval has sparked discussions regarding Nigeria’s escalating debt profile, as the nation continues to rely on external borrowing to finance development projects. The government maintains that these loans are essential for addressing pressing challenges in health and education sectors, which are pivotal for the country’s long-term development.