World Bank Approves $1.08 Billion Loan to Support Nigeria’s Education, Nutrition, and Economic Recovery
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The World Bank has greenlit $1.08 billion in concessional financing to bolster Nigeria’s efforts to improve education, nutrition, and economic resilience, particularly for vulnerable populations. The funding, split across three initiatives, targets critical gaps in social services and aims to cushion the impacts of recent economic reforms. A $500 million top-up to Nigeria’s Community Action for Resilience and Economic Stimulus (NG-CARES) Programme will expand support for households grappling with the fallout of the 2023 fuel subsidy removal and foreign exchange reforms. Originally launched to counter COVID-19 disruptions, NG-CARES has already reached over 15 million people with livelihood grants, food security aid, and small-business assistance. The additional funding will sustain social transfers, public works projects, and grants to help communities navigate ongoing economic pressures. According to lindaikejisblog, separate $80 million allocation will fuel the Accelerating Nutrition Results in Nigeria (ANRIN 2.0) project, which focuses on improving maternal and child nutrition. The initiative targets pregnant women, lactating mothers, adolescent girls, and children under five, aiming to scale access to essential nutrition services, fortified foods, and education on feeding practices. Building on its earlier phase—which reached 13 million children between 2018 and 2024—the program aligns with Nigeria’s national development goals to reduce malnutrition and strengthen health systems. The third tranche, a 500 million investment in the Hope for Quality Basic Education for All (HOPE−EDU) project, seeks to overhaul Nigeria’s basic education system. The initiative will prioritize foundational literacy and numeracy, expand access to quality schooling, and modernize education management. Related Posts Market offers rent-now, pay-later answer to tenants. Prospective renters in Nigeria can now breathe a sigh of relief as a rental solution that simplifies renting and facilitates Read more Rwanda retreat: Nigerian governments discuss complex issues. The Nigerian governors will attend and participate in a three-day leadership retreat in Kigali, Rwanda, designed to provide a platform Read more Shaibu: I support Obaseki and seek governorship. Philip Shaibu, the deputy governor of Edo State, has pledged to remain loyal to Edo State’s governor, Godwin Obaseki, despite Read more Citigroup expects more foreign investment in Nigeria and others despite FX turmoil. Citigroup Inc. has stated that Nigeria, Angola, and Kenya are among the African nations that are anticipated to attract more Read more Olawale Moses OyewoleOlawale Moses Oyewole is an adept writer who stays on top of current events and curate informative and engaging articles for his readers. He is a digital strategist who help brands gain online visibility.
World Bank to Approve $632M in New Loans for Nigeria Amid Debt Concerns
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The World Bank will approve two new loans totaling $632 million for Nigeria on Monday, even as concerns over the country’s increasing debt burden weigh on the institution. The loans are made up of $80 million for the Accelerating Nutrition Results in Nigeria 2.0 Project and $552 million for the HOPE for Quality Basic Education for All Programme, the Sunday data from the bank’s website reveals. The two projects are at the final stages of negotiations and are to be approved later today. This is barely days following the approval on March 28, 2025, by the World Bank of a $500 million loan under the Community Action for Resilience and Economic Stimulus Programme to finance the increase in livelihood support, food security activities, and grants to the poor households and businesses. Nigeria was paid $2.7 billion in World Bank loans in 2023, predominantly for power sector, renewable energy, women empowerment, and education projects. However, 2024 has seen an even greater inflow of funds with $4.32 billion approved to date. The rising approvals for loans are proof of Nigeria’s urgent need for funds amidst economic uncertainty, fiscal pressures, and mounting public debt. Related Posts Tinubu Unveils Ambitious Economic Plan to Halve Inflation by 2025 President Bola Ahmed Tinubu has outlined an ambitious economic agenda aimed at reducing Nigeria’s inflation rate from the current 34.6% Read more Nigeria’s Path to Prosperity: Transforming Challenges Into Sustainable Success Over the past 14 years as the Founder of TEXEM, UK, and previously as a Director of Strategy in Cambridge, Read more Nigerian Equities Market Defies Economic Challenges, Posts Record N21.8 Trillion Gain in 2024 The Nigerian equities market demonstrated exceptional resilience in 2024, achieving a remarkable gain of N21.845 trillion despite economic headwinds such Read more 2024 Elections: A Mixed Bag of Milestones, Setbacks, and Electoral Integrity Challenges The year 2024 marked a significant milestone for Nigeria as it celebrated 25 years of uninterrupted democratic rule. The electoral Read more Olawale Moses OyewoleOlawale Moses Oyewole is an adept writer who stays on top of current events and curate informative and engaging articles for his readers. He is a digital strategist who help brands gain online visibility.
World Bank, FG Roll Out $525,000 Adamawa Community Revolving Fund
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The World Bank and the Federal Government rolled out the Community Revolving Fund (CRF) which disbursed $525,000 to 21 Adamawa State communities to improve economic adversity and climate vulnerability resilience. Speaking about the launch in Yola, Adamawa State Deputy Governor, Professor Kaletapwa Farauta, stated that the project aims to create a sustainable business cycle of action, eventually leading to economic security at the community and state levels. She assured the state government’s commitment to monitoring and evaluating the project under the Agro-Climatic Resilience in Semi-Arid Landscapes (ACReSAL) initiative. Farauta also called on the federal government to desilt the River Benue to enhance foreign water transport, irrigation, and economic opportunities. Meanwhile, Minister of State for Agriculture and Food Security, Dr. Aliyu Abdullahi, restated the federal government’s partnership with Adamawa State through ACReSAL to enhance food security. He emphasized that the project is spread across all 774 local government areas, benefiting each according to its comparative and competitive advantages. Related Posts 8 Ways to Encourage Daily Walking Moving your body is one of the best things you can do for your physical and mental health, but you Read more Effects of absent father on marriage. We cannot disregard the fact that the absence of a father, whether due to death, physical absence, or emotional unavailability, Read more Tinubu Unveils Ambitious Economic Plan to Halve Inflation by 2025 President Bola Ahmed Tinubu has outlined an ambitious economic agenda aimed at reducing Nigeria’s inflation rate from the current 34.6% Read more Nigeria’s Path to Prosperity: Transforming Challenges Into Sustainable Success Over the past 14 years as the Founder of TEXEM, UK, and previously as a Director of Strategy in Cambridge, Read more Olawale Moses OyewoleOlawale Moses Oyewole is an adept writer who stays on top of current events and curate informative and engaging articles for his readers. He is a digital strategist who help brands gain online visibility.