Nigeria is in advanced talks with the World Bank over a proposed $1.25 billion loan to support economic reforms, job creation, and business growth.
According to a document obtained by Channels Television, the loan is expected to be presented for approval on June 26, 2026, after moving beyond the concept and appraisal stages.
The facility is currently at the World Bank’s decision meeting stage, a key internal review before final approval by the Board of Executive Directors. Nigeria’s Ministry of Finance is expected to oversee implementation.
The funding aims to improve access to finance, electricity, and digital services, while supporting reforms in tax, trade, and agriculture.
Meanwhile, Accountant-General Shamseldeen Ogunjimi warned that long delays in loan approvals could affect development projects. As of December 2025, Nigeria’s external debt stood at $51.86 billion, with total public debt at $110.97 billion.