₦airaland Forum

The World Bank is set to approve a fresh $500 million loan to Nigeria next month.


The loan is aimed at boosting agricultural productivity and strengthening key value chains across participating states.

According to official project documents at the weekend, the loan has an estimated approval date of March 30, 2026.


The project lists a “Total Operation Cost” of $500 million, with “Total Financing” also put at $500 million.

The entire funding will be provided by the World Bank’s concessional lending arm, the International Development Association, through an IDA credit facility valued at $500 million.

The borrower is listed as the Federal Republic of Nigeria, while implementation will be handled by the Federal Ministry of Agriculture and Food Security alongside participating state governments.

The project is designed to increase smallholder productivity and strengthen targeted agricultural value chains in selected states. The World Bank noted that creating more and better jobs, while tackling food and nutrition insecurity, remains one of Nigeria’s most pressing development challenges.

The facility will be deployed across four major components.

These include integrating smallholder farmers into competitive value chains, modernizing smallholder production systems, strengthening policy frameworks and the enabling environment to attract private investment in input markets, and ensuring effective project coordination and monitoring.

The planned loan comes amid a continued rise in Nigeria’s external debt profile. Data show that funding from the International Development Association increased by $1.9 billion within one year, reaching $18.7 billion as of December 31, 2025.

According to the Debt Management Office, Nigeria’s total external debt stood at $46.98 billion as of June 30, 2025. Of that amount, the World Bank Group accounted for $19.39 billion.

Source: https://dailypost.ng/2026/02/22/nigeria-to-get-fresh-n500m-world-bank-loan-amid-huge-debt-burden

Na so. Why world Bank no go proud of Tinubu gov. Give loan 500m. Collect interest of 5billion over 30 years.. Still dem neva pay the loan

Simply for another cycle of looting, looting and more looting.

South Africa is owing 5 times what Nigeria is owing and they are not up to 70 million and also not doing Nelfund,free technical colleges,free health care for pensioners etc.
Not to forget massive projects ongoing in the 6 geopolitical regions of Nigeria.
Most previous govts have collected loans and embezzled them.
No govt in the history of Nigeria has ever performed like this.

Putinofrussia:
South Africa is owing 5 times what Nigeria is owing and they are not up to 70 million and also not doing Nelfund,free technical colleges,free health care for pensioners etc.
Not to forget massive projects oncoming in the 6 geopolitical regions of Nigeria.
Most previous govts have collected loans and embezzled them.
No govt in the history of Nigeria has ever performed like this.

But they are not running from their country to Nigeria. So what exactly is your point

nedu666:
But they are not running from their country to Nigeria. So what exactly is your point

I tire

Putinofrussia:
South Africa is owing 5 times what Nigeria is owing and they are not up to 70 million and also not doing Nelfund,free technical colleges,free health care for pensioners etc.
Not to forget massive projects ongoing in the 6 geopolitical regions of Nigeria.
Most previous govts have collected loans and embezzled them.
No govt in the history of Nigeria has ever performed like this.

South Africa has National Student Financial Aid Scheme (NSFAS).

Keep quiet!

jmoore:
South Africa has National Student Financial Aid Scheme (NSFAS).

Keep quiet!

lol
Is this why South Africa is owing almost 6 times the debt of Nigeria even with their small population?
President Tinubu is doing more than South African govt can ever do.
Don't you think he is very prudent because he is subsidizing cancer treatment,subsidizing DIALYSIS,giving tuition free technical colleges with free food and #22,500 monthly free money for the students,free health care for pensioners etc.
Not to forget massive projects ongoing in the 6 geopolitical regions of Nigeria.
Most previous govts have collected loans and embezzled them.
No govt in the history of Nigeria has ever performed like this.
Give uncountable Gbosas to President Tinubu,sir.

Putinofrussia:
lol
Is this why South Africa is owing almost 6 times the debt of Nigeria even with their small population?
President Tinubu is doing more than South African govt can ever do.
Don't you think he is very prudent because he is subsidizing cancer treatment,subsidizing DIALYSIS,giving tuition free technical colleges with free food and #22,500 monthly free money for the students,free health care for pensioners etc.
Not to forget massive projects ongoing in the 6 geopolitical regions of Nigeria.
Most previous govts have collected loans and embezzled them.
No govt in the history of Nigeria has ever performed like this.
Give uncountable Gbosas to President Tinubu,sir.

South Africa generates up to 40,000 megawatts of electricity while Nigeria is struggling to maintain 5,000 megawatts with constant national grid collapses.

A country with smaller population generating up to 8 times of what Nigeria is generating.

Nigeria debt servicing costs are much more severe, consuming over 85% of revenue compared to South Africa's 20%.


Babablu Bulabu rest!!

Putinofrussia:
South Africa is owing 5 times what Nigeria is owing and they are not up to 70 million and also not doing Nelfund,free technical colleges,free health care for pensioners etc.
Not to forget massive projects ongoing in the 6 geopolitical regions of Nigeria.
Most previous govts have collected loans and embezzled them.
No govt in the history of Nigeria has ever performed like this.

South Africa's revenue is almost five times of Nigeria's revenue is why they can owe so much

Basically, we are running on loans but for political reasons have to pretend all-is-well. They will tie one useless reason to this loan as the aim but divert it towards running the economy and doing the normal thing.

Putinofrussia:
South Africa is owing 5 times what Nigeria is owing and they are not up to 70 million and also not doing Nelfund,free technical colleges,free health care for pensioners etc.
Not to forget massive projects ongoing in the 6 geopolitical regions of Nigeria.
Most previous govts have collected loans and embezzled them.
No govt in the history of Nigeria has ever performed like this.

By most previous govt" you mean Buhari is excluded?

You compared our debt to soutg Africa's So how is south africa fairing? Do they stone devil in south africa? Build mosques? Pay imams? Do amnesty for one out of 300 tribes?

lawani:
South Africa's revenue is almost five times of Nigeria's revenue is why they can owe so much

It is not entirely accurate to say South Africa's total government revenue is exactly 5 times higher than Nigeria's, but it is accurate to say South Africa's revenue and tax collection significantly outpace Nigeria's on a per-capita basis, with a much larger budget in dollar terms.
That is why we need President Tinubu that will change that trajectory.
While SA tax collection is around #60 trillion,Nigeria does only around #3 trillion but this year will be different.
The NRS mulls around #40 trillion,before Tinubu finishes his tenure by 2031,we would have outpaced South Africa as the first economy with the largest revenue in Africa.

Putinofrussia:
It is not entirely accurate to say South Africa's total government revenue is exactly 5 times higher than Nigeria's, but it is accurate to say South Africa's revenue and tax collection significantly outpace Nigeria's on a per-capita basis, with a much larger budget in dollar terms.
That is why we need President Tinubu that will change that trajectory.
While SA tax collection is around #60 trillion,Nigeria does only around #3 trillion but this year will be different.
The NRS mulls around #40 trillion,before Tinubu finishes his tenure by 2031,we would have outpaced South Africa as the first economy with the largest revenue in Africa.

South Africa's budget for last year was over 140 billion dollars. Nigeria's revenue for last year would be around 30 billion dollars. However living costs in South Africa is more than three times that of Nigeria meaning our budget has three times SA budget's purchasing power in the majority of the economy. Last year revenue in Nigeria was CIT 10 trillion customs 3 trillion VAT 8 trillion oil and gas around 18 trillion all approximately.

lawani:
South Africa's budget for last year was over 140 billion dollars. Nigeria's revenue for last year would be around 30 billion dollars. However living costs in South Africa is more than three times that of Nigeria meaning our budget has three times SA budget's purchasing power in the majority of the economy. Last year revenue in Nigeria was CIT 10 trillion customs 3 trillion VAT 8 trillion oil and gas around 18 trillion all approximately.

Yes but still lower than SA revenue just like you pointed out.
I am sure we will turn that around positively in a couple of years.

Onigbese..yawoyawo government

Loan loan loan....... Tinubu the loan consumer, yet he claims he raised billions....... 🤣😂

Tinubu must be one of world's bank best customers...... 😂

Yet Remi said her husband was rich, and did not need Nigeria's money....... 💰😂🙄

Election is fast approaching.

It's time to settle those that need to be settled.


What a country

The jagaban keep showing them sege banza

These international lenders are praising Tinubu because they are seriously doing business with Nigeria

Putinofrussia:
South Africa is owing 5 times what Nigeria is owing and they are not up to 70 million and also not doing Nelfund,free technical colleges,free health care for pensioners etc.
Not to forget massive projects ongoing in the 6 geopolitical regions of Nigeria.
Most previous govts have collected loans and embezzled them.
No govt in the history of Nigeria has ever performed like this.

thunder dey do press up for where u dey.. So, this govt no dey steal abi?
We get electricity abi we no get electricity? Them dey thief abi them no dey thief?
We don get water abi we never get water?
Them still dey kidnap Nigerians abi them no dey kidnap them?
So, what exactly is the benefit of this gobvt to Nigerians?

Putinofrussia:
South Africa is owing 5 times what Nigeria is owing and they are not up to 70 million and also not doing Nelfund,free technical colleges,free health care for pensioners etc.
Not to forget massive projects ongoing in the 6 geopolitical regions of Nigeria.
Most previous govts have collected loans and embezzled them.
No govt in the history of Nigeria has ever performed like this.

What you are saying, is it in Kenya

Putinofrussia:
South Africa is owing 5 times what Nigeria is owing and they are not up to 70 million and also not doing Nelfund,free technical colleges,free health care for pensioners etc.
Not to forget massive projects ongoing in the 6 geopolitical regions of Nigeria.
Most previous govts have collected loans and embezzled them.
No govt in the history of Nigeria has ever performed like this.

If you where assessable and close to me I for dash you better blow

We were told that the purpose of the fuel subsidy removal was to cut out most of these loans... Here we are, even without fuel subsidy, collecting more loans than all the previous governments combined.. All these without no visible outcome

"He Who Peels Groundnut For a Blind Man Must Keep Blowing Whistle to Prove That He is Not Eating The Groundnut"

Criminals!
Criminals!
Criminals!

But this government easily generates trillions. Why take a loan?

even when subsidy has been removed

Antoeni:
"He Who Peels Groundnut For a Blind Man Must Keep Blowing Whistle to Prove That He is Not Eating The Groundnut"

pigmania:
But this government easily generates trillions. Why take a loan?

Shout-out to all chess players on Nairaland earning via the game.