Nigeria is in advanced discussions with the World Bank over a fresh $1.25 billion loan expected to support economic reforms, job creation and investment growth.
The proposed facility, titled Nigeria Actions for Investment and Jobs Acceleration, has moved beyond the appraisal stage and is now approaching final approval, according to documents obtained by Chronicle NG.
The loan is expected to be presented to the World Bank’s Board of Executive Directors on June 26, 2026, after reaching the decision-meeting phase of the lender’s project cycle.
If approved, the facility would become one of the largest World Bank loans secured under the administration of Bola Tinubu, second only to the $1.5 billion reform support package approved in June 2024.
The Federal Ministry of Finance is listed as the implementing agency for the programme, while the Federal Republic of Nigeria is named as the borrower. The loan is expected to fund reforms aimed at expanding access to finance, electricity and digital services, while also improving competitiveness through tax, agriculture and trade reforms.
Nigeria’s growing debt profile has again come into focus following the development. As of December 31, 2025, the country’s external debt stood at $51.86 billion, while total public debt was estimated at $110.97 billion.
The fresh negotiations also come days after the Accountant-General of the Federation, Shamseldeen Ogunjimi, warned that Nigeria could reject future World Bank loans if approval and disbursement delays extend beyond six months.
Ogunjimi said prolonged delays could disrupt project execution and affect national development plans, stressing that the facilities are loans that must eventually be repaid.
