The Federal Government has opened discussions with the World Bank for three new loans totalling $1.5 billion, as Nigeria’s public debt rose to a record N166.79 trillion at the end of June 2026.
Documents from the World Bank show that the proposed financing comprises three separate $500 million facilities targeting climate resilience, social protection and early childhood development.
The most immediate proposal is a $500 million additional financing for the Agro-Climatic Resilience in Semi-Arid Landscapes project, known as ACReSAL.
The World Bank has scheduled October 29, 2026, as the estimated date for its board to consider the proposed financing.
The Federal Republic of Nigeria is listed as the borrower, while the Federal Ministry of Environment is the implementing agency.
If approved, the additional financing would increase the total size of the ACReSAL project from the previously approved $700 million to $1.2 billion.
The entire financing would be provided through the International Development Association, the World Bank’s concessional financing arm.
