The Federal Government of Nigeria has announced plans to secure a $1.75 billion loan from the World Bank to bridge funding gaps in critical infrastructure development, despite a significant revenue increase in 2025.
According to a statement by Bayo Onanuga, Special Adviser to the President on Information and Strategy, Nigeria’s revenue from January to August 2025 reached ₦20.59 trillion, a 40.5% rise compared to ₦14.6 trillion in the same period of 2024, with non-oil revenue accounting for 75% of the total.
The loan, expected to be approved before the end of 2025, aims to bolster key sectors such as infrastructure, which the government deems essential for sustainable growth.
However, the decision to borrow has sparked debate among experts, given Nigeria’s rising debt profile and the recent revenue gains.
Critics argue that the government should prioritize fiscal discipline, while supporters maintain that strategic borrowing is necessary to address longstanding developmental challenges.
The World Bank has been a significant lender to Nigeria, approving $8.40 billion in loans over the past two years, with additional funding requests under consideration for health, education, and agriculture sectors.
The proposed $1.75 billion loan is part of a broader strategy to enhance Nigeria’s economic resilience, though concerns about transparency and debt sustainability persist.
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