World Bank to consider Nigeria’s $1bn loan request

The world bank has set december 16 as a tentative date to review nigeria’s request for a $1bn development policy financing loan under the “nigeria actions for investment and jobs acceleration (p512892)” initiative. The loan aims to support economic reforms, create jobs, and boost private investment.

The $1bn facility includes a $500m ida credit and a $500m ibrd loan and will be implemented through the federal ministry of finance. It is structured around two main pillars: unlocking private sector growth and lowering the cost of doing business. Initiatives under the loan include expanding access to credit, supporting digital inclusion, improving capital markets, easing inflation, promoting export diversification, and strengthening agriculture.

The programme also supports the investment and securities act 2025, the national digital economy and e-governance bill 2025, credit enhancement facilities, and a cbn rulebook for microfinance and non-bank financial institutions. Efforts to simplify trade barriers, adopt afcfta concessions, and improve seed systems for key crops are expected to raise productivity, attract private investment, and enhance food security.

The loan forms part of a broader fy2026 package including finclude (msme financing), bridge (digital infrastructure), and agrow (agriculture value chain growth). The world bank, nigeria’s largest creditor, currently holds $19.39bn of the country’s $46.98bn external debt, highlighting its key role in supporting nigeria’s development.