Nigeria Secures $500 Million World Bank Loan to Strengthen Economic Resilience

Nigeria has received approval for a $500 million loan from the World Bank to bolster economic resilience and provide crucial support to vulnerable communities.

The loan will fund the Community Action for Resilience and Economic Stimulus Program, aimed at expanding access to livelihood support, food security services, and grants for poor households and small businesses affected by economic challenges.

According to the World Bank, the approval on March 28, 2025, marks a major step in addressing Nigeria’s economic difficulties by empowering grassroots communities. The initiative will help mitigate the impact of inflation and high living costs, ensuring economic stability for affected populations.

In addition to this, two additional loans are under negotiation and expected to be approved. One of them, valued at $552 million, will focus on improving the quality of basic education across the country.

These financial commitments form part of the World Bank’s broader strategy to support Nigeria’s development agenda, targeting key sectors such as healthcare, education, and economic recovery.