FG Seeks $1.5bn World Bank Loans as Tinubu Works From Paris

The Federal Government is discussing three World Bank loans worth $1.5 billion, while the Presidency says President Bola Tinubu is continuing official duties remotely from Paris during his working vacation. The proposed package includes $500 million in additional funding for the ACReSAL climate-resilience project, $500 million for social protection under the HOPE-SP programme, and $500 million for early childhood development. The World Bank is expected to consider the ACReSAL top-up on 29 October 2026. The request comes as Nigeria’s public debt stands at ₦166.79 trillion. Supporters say concessional financing could fund climate adaptation, cash transfers and child development, while critics are questioning the country’s growing debt exposure. The Presidency says Tinubu remains hale and hearty and is entitled to annual leave. Opposition figures and some lawmakers have, however, demanded clarity on the length of his absence and whether all constitutional vacation procedures were followed.

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