Nigeria has secured a $500 million loan from the World Bank to bolster its economic resilience amid rising inflation and food insecurity. The loan, approved on March 28, 2025, will support the Community Action for Resilience and Economic Stimulus Program, which aims to provide relief to vulnerable households and small businesses.
The program will focus on grassroots-level interventions, delivering targeted grants and livelihood support to low-income families and firms. It also seeks to improve food security and create economic opportunities for populations most affected by recent economic disruptions.
This loan is part of a broader strategy to support Nigeria's development priorities, particularly in areas such as healthcare, education, and poverty alleviation. The World Bank has emphasized the importance of implementing these programs efficiently to ensure maximum impact.
In addition to this loan, Nigeria is awaiting final approval for two more World Bank-backed loans: $80 million for Accelerating Nutrition Results in Nigeria 2.0 and $552 million for the HOPE for Quality Basic Education for All programme.
However, concerns have been raised about Nigeria's rising debt profile and the slow disbursement of previously approved loans. As of July 31, 2024, only $774.99 million (16% of the approved amount) had been disbursed, with Nigeria currently owing the World Bank $17.32 billion.
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