FG Seeks $500m World Bank Loan Days Before Handover

Post created on 12:27 pm

The Federal Government is seeking a fresh $500 million loan from the World Bank to establish a new infrastructure financing platform, with formal board approval scheduled for May 25, 2027—just four days before the inauguration of Nigeria’s next president.

​The proposed borrowing comes as political activities and campaigns intensify ahead of the 2027 general elections, sparking public debate over the timing of fresh financial commitments and their fiscal implications for the incoming administration.

​According to the World Bank’s Initial Project Information Document, obtained by newsmen on Sunday, the facility forms part of a broader $3.85 billion infrastructure financing initiative designed to leverage public resources and attract private investment into critical sectors of the Nigerian economy.

​Financial analysts note that the proposed platform aims to bridge the country’s massive infrastructure deficit by mobilizing institutional capital, though its proximity to the transition timeline has drawn scrutiny from transparency advocates and economists.