Legit reported that the federal government of Nigeria is talking with the World Bank for a new $1.5 billion loan. The loan would be due in 2024, pending approval from the World Bank and the Federal government. Details show that the government of President Bola Tinubu has obtained loans three times in the last three months.
The expected World Bank loan is meant to strengthen primary education and girls’ empowerment. The loan is also expected to be used to enhance systems for improved delivery of primary education and direct health services in participating states.
Findings reveal another loan titled ‘Nigeria Macro-Fiscal Reforms for Economic Stability and Economic Transformation.’
The details and amount of this loan remain undisclosed by the World Bank and the Nigerian government.
Punch reports that there were pending talks on five other loan projects.
The loans include $300 million for solutions for internally displaced persons (IDPs) and host communities, $500 million for rural access and agricultural marketing project scale-up, $750 million for Nigeria’s distributed access via renewable energy scale-up project, and $500 million NG accelerating resource mobilization reforms.