World Bank to Approve $750m Loans for Nigeria on September 30
The World Bank is set to approve two loans totalling $750 million for Nigeria on Tuesday, September 30, 2025. The financing will be directed at strengthening health security and expanding climate-resilient digital infrastructure across the country, according to documents released on the bank’s official website.
The package consists of $500 million for the Building Resilient Digital Infrastructure for Growth in Nigeria (BRIDGE) project and $250 million under the Health Security Programme in Western and Central Africa, Nigeria – Phase II.
The BRIDGE project, led by the Federal Ministry of Communications, Innovation and Digital Economy, is designed to extend broadband access to underserved areas. With an estimated cost of $1.6 billion, the project will be funded through a combination of concessional credit and private investment. Minister of Communications and Digital Economy, Dr. Bosun Tijani, has described the initiative as the most ambitious digital infrastructure project in Nigeria’s history, noting that the plan will extend the fibre network from 35,000 kilometres to more than 125,000 kilometres, supported by national fibre rings, city-level loops, regional networks, and edge data centres. A Special Purpose Vehicle will oversee the rollout, with the Federal Government holding a 51 percent equity stake.
The $250 million health facility will be managed by the Nigeria Centre for Disease Control and Prevention in collaboration with the Ministry of Finance. It is intended to improve Nigeria’s ability to prevent, detect, and respond to pandemics and other public health emergencies, while also strengthening regional surveillance systems across West and Central Africa.
World Bank lending to Nigeria has risen sharply in recent years, with $8.4 billion in new loans approved between June 2023 and August 2025 for 15 projects spanning health, energy, education, governance, and rural development. Debt Management Office data shows Nigeria owes the World Bank $18.23 billion as of March 31, 2025, accounting for almost 40 percent of the country’s external debt and more than 80 percent of its multilateral debt.
Economists remain divided on the impact of continued borrowing. Some argue that concessional loans tied to revenue-generating projects are a sound strategy for development, while others warn that Nigeria’s debt stock, now at about ₦149 trillion, could rise to ₦180 trillion, crowding out funds needed for public services and infrastructure.
Supporters of the new loans believe they will deliver tangible results if managed transparently, boosting Nigeria’s digital backbone and strengthening its public health response systems. Critics, however, insist that accountability and prudent fiscal management are key if the financing is to avoid adding to the country’s debt burden without measurable benefits.