The Federal Government is seeking a fresh $1.5 billion loan from the World Bank to support ongoing reforms and development programmes in Nigeria.
The proposed financing is expected to support the government’s economic reform agenda and provide additional funding for key areas of the economy.
The request comes amid the administration’s efforts to strengthen public finances, improve economic management and support programmes aimed at addressing challenges affecting the country.
The World Bank has previously provided financing to Nigeria for various development initiatives, including economic reforms, social protection and support for vulnerable households.
The proposed $1.5 billion facility would add to Nigeria’s existing borrowing commitments as the government continues to seek external financing for its programmes.
