Tinubu Government Seeks $1.25bn World Bank Loan to Accelerate Jobs and Investment
The Federal Government is advancing a $1.25bn facility with the World Bank to support reforms that boost competitiveness, private sector growth, and job creation. If approved by the board next month, this loan would be the second-largest secured under President Tinubu, valued at about ₦1.7tn at current exchange rates. It follows the $1.5bn policy financing secured in June 2024. Critics warn that rising debt levels and heavy reliance on external borrowing may heighten fiscal risks as Nigerians face inflation and high living costs. The outcome will shape debates on the sustainability of Nigeria’s borrowing strategy.
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