The Federal Government is in advanced talks with the World Bank for a fresh $1.25bn loan to support economic reforms, job creation and competitiveness. A document titled “Nigeria Actions for Investment and Jobs Acceleration” says the facility is expected to go before the bank’s board for approval on June 26, 2026.
The proposed loan is designed to improve access to finance, digital and electricity services, while supporting reforms in tax, trade and agriculture. The Federal Ministry of Finance is listed as the implementing agency, while the project has already passed the appraisal and negotiation stages of the World Bank approval process.
If approved, it will become Nigeria’s second-largest World Bank facility after the $1.5bn reform support loan approved in June 2024. Nigeria’s external debt stood at $51.86bn as of December 31, 2025, while total public debt is currently put at $110.97bn.
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The development comes days after the Accountant-General of the Federation, Dr Shamseldeen Ogunjimi, warned that Nigeria could reject World Bank loans delayed beyond 6 months. Speaking in Abuja during a meeting with a World Bank delegation led by Mrs Treed Lane, Ogunjimi urged the bank to speed up approvals and disbursements, saying the loans carry repayment obligations and must align with project timelines.
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