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Nigeria secures $4.95 billion in World Bank loans so far under Tinubu Administration

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Nigeria has secured a total of $4.95 billion in loans from the World Bank under the administration of President Bola Tinubu amid concerns over the country’s rising external debt servicing costs.  

Not less than six loan projects have been approved and they include loans for power ($750 million), women empowerment ($500 million), girl’s education ($700 million), renewable energy ($750 million), economic stabilization reforms ($1.5 billion) and resource mobilization reforms ($750 million), according to findings by Naijaonpoint. 

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