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Nigeria’s fiscal managers have thrown open the debt taps at a pace not seen in recent memory, moving early and aggressively into the domestic market to raise cash before borrowing costs climb any higher. The strategy, described in the latest Fixed Income Thematic Report by Meristem Securities Limited, points to a government determined to…
Nigeria has secured a fresh $1.25 billion financing package from the World Bank, aimed at deepening ongoing economic reforms, drawing private investment and accelerating job creation across Africa’s largest economy. The World Bank announced the approval on Wednesday, July 1, 2026, describing the facility as the anchor of its new Country Partnership Framework for…
The World Bank has approved a fresh $1.25bn loan for Nigeria under its Nigeria Actions for Investment and Jobs Acceleration programme, pressing ahead with the facility despite months of public unease over the country’s swelling debt profile and repeated calls for the Federal Government to curb external borrowing. The approval was announced in a…
Nigeria channels nearly five times more of its national revenue into servicing external debt than it commits to healthcare and education combined, a fresh review by ActionAid International and ActionAid Nigeria has found, framing the country’s fiscal squeeze as a direct casualty of policy advice from the International Monetary Fund. The report, released on…
Nigeria maintained its position as the third-largest global borrower from the World Bank’s International Development Association despite a marginal reduction in its debt stock. The nation’s outstanding exposure to the concessional lending arm stood at $18.5 billion as of March 31, 2026. This figure marks a slight 1.7 percent drop from the $18.7 billion recorded…
The Federal Government is in advanced discussions with the World Bank over a proposed $1.25 billion loan facility aimed at accelerating economic reforms, expanding job opportunities, and strengthening business competitiveness across the country. According to documents obtained by Channels Television, the proposed facility is tied to a programme titled Nigeria Actions for Investment and Jobs…
Atiku Abubakar has cautioned President Bola Tinubu against further external borrowing. The former Vice President labelled the government’s latest $516 million loan request as reckless. The administration seeks these funds to support the Sokoto-Badagry superhighway project. This proposal currently awaits Senate approval. Atiku argues the government lacks a transparent repayment framework for such debt. The…
Assad Hassan, the national coordinator for the World Bank-backed HOPE Governance Programme, has issued a sharp rebuke to Nigerian state governments regarding the use of concessional loans. He warns that states must build robust institutions rather than view international funding as a temporary windfall. Reform cycles often stall once external capital dries up. Nigeria now…
