Skip to content

Nigeria secures World Bank support for economic reforms

World Bank has approved two financing facilities of $2.25 billion for Nigeria to support Nigeria's government's efforts

The Federal Government of Nigeria has received significant funding from the World Bank worth $2.25 billion. The international lender announced the approval of two significant financial operations to bolster Nigeria’s economic stability and support its vulnerable populations.

According to a statement from the World Bank on Thursday, the combined package, totalling $2.25 billion, comprises of $1.5 billion Nigeria Reforms for Economic Stabilisation to Enable Transformation Development Policy Financing Program and the $750 million Nigeria Accelerating Resource Mobilization Reforms Program-for-Results.

These initiatives are part of President Tinubu’s broader efforts to stabilize the economy, position it for sustained growth, and provide urgent support to the poor and vulnerable.

The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, confirmed the approval of two significant financial support packages by the World Bank to the President Bola Tinubu-led government.