Nigeria to borrow $1.75bn from World Bank
The Federal Government says it will borrow fresh loans of $1.75bn from the World Bank, even as it recorded a 40.5 per cent rise in revenue during the first eight months of 2025.
The Federal Government says it will borrow fresh loans of $1.75bn from the World Bank, even as it recorded a 40.5 per cent rise in revenue during the first eight months of 2025.
The latest loans will add to the $8.40bn already approved for Nigeria by the World Bank between June 2023 and August 2025.
These were contained in a statement on Wednesday by the Special Adviser to the President on Information and Strategy, Bayo Onanuga.
“From January to August 2025, total collections reached N20.59tn, a 40.5 per cent increase from N14.6tn recorded in 2024.
"This strong performance aligns with projections, placing the government firmly on course to achieve its annual non-oil revenue target,” the government said.
Government revenues rose between January and August 2025 to #20.59tn, up from #14.6tn within the same period last year, with non-oil earnings now accounting for 75 per cent of the total collections, surpassing earlier projections.
Onanuga further stated that the strong revenue performance places the country on track to achieve its annual non-oil revenue target.
However, despite this increase, the government says borrowing remains necessary to bridge gaps in critical sectors like infrastructure.
Members of the All Indigenous Contractors Association of Nigeria on Wednesday, protested at the Ministry of Finance in Abuja, over alleged non-payment of about N4 trillion for projects carried out in 2024, even as documents on the World Bank’s website indicate that Nigeria was in line to receive four major loans between September and December.
However, despite this increase, the government says borrowing remains necessary to bridge gaps in critical sectors like infrastructure.
Members of the All Indigenous Contractors Association of Nigeria on Wednesday, protested at the Ministry of Finance in Abuja, over alleged non-payment of about N4 trillion for projects carried out in 2024, even as documents on the World Bank’s website indicate that Nigeria was in line to receive four major loans between September and December.
The loans are funding agriculture, digital infrastructure, healthcare, and support for small businesses, with disbursements expected to begin once the processes were completed.
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