The World Bank is slated to greenlight two key loans totaling $750 million for Nigeria on Tuesday, September 30, 2025, to ramp up healthcare security and climate-resilient digital infrastructure in underserved spots, per the bank’s website.
Breaking it down, $500 million goes to the Building Resilient Digital Infrastructure for Growth in Nigeria (BRIDGE) project, led by the Federal Ministry of Communications, Innovation and Digital Economy. This initiative, with a $1.6 billion overall tab, will expand broadband to rural and remote areas through tough, weather-proof networks. The World Bank chips in via a low-interest International Development Association credit, with the rest from private players. Communications Minister Bosun Tijani touted it in August as a game-changer, unveiling a $2 billion fiber-optic push to stretch Nigeria’s network from 35,000 to over 125,000 kilometers, linking all six geopolitical zones to Lagos with rings, loops, and data centers. A special vehicle will handle rollout, with the government owning 51% and investors 49%, backed by $200 million from the African Development Bank and more from European and Islamic lenders.
The other $250 million funds Phase II of the Health Security Programme in Western and Central Africa, run by the Nigeria Centre for Disease Control and Prevention under the Finance Ministry. It aims to sharpen Nigeria’s edge in spotting and tackling health crises, drawing lessons from COVID-19 and beyond, to beef up regional surveillance and response.
Nigeria’s been on a borrowing spree from the World Bank, snagging $8.4 billion across 15 projects in energy, education, health, rural development, and governance from June 2023 to August 2025—$6.5 billion in soft IDA loans and $1.95 billion from the harder-edged International Bank for Reconstruction and Development.
Economists are split. Lagos-based Adewale Abimbola sees value if funds fuel revenue-makers with solid oversight: “Borrowing’s fine if it’s smart and accountable.” But CSA Advisory’s Dr. Aliyu Ilias sounds the alarm on the debt climb—from N87 trillion under Buhari to N149 trillion now, eyeing N180 trillion—despite revenue jumps from subsidy cuts and better tax hauls.
“Why borrow more when earnings are up? It’s squeezing out schools, roads, and jobs,” he said, pointing to rising debt service eating into growth and fueling inflation and forex woes.
Debt Management Office figures show Nigeria owes the World Bank $18.23 billion as of March 31, 2025, up from $17.81 billion in December 2024—39.7% of the $45.98 billion external debt pile, and over 81% of multilateral borrowings.
