The Federal Government is seeking fresh financing worth $1.5 billion from the World Bank for three projects focused on climate resilience, social protection and early childhood development.
Documents obtained from the World Bank show that the proposed financing consists of three separate facilities, each valued at $500 million. However, the facilities are still at different stages of preparation and have not yet received final approval. The first proposed facility is an additional $500 million for the Agro Climatic Resilience in Semi Arid Landscapes project, known as ACReSAL.
The World Bank is expected to consider the proposed financing at its board meeting on October 29, 2026. If approved, the additional funding would increase the total financing for the ACReSAL programme from $700 million to $1.2 billion. The project is designed to address challenges linked to land degradation, water insecurity, climate change and declining agricultural productivity. It currently operates across 19 northern states and the Federal Capital Territory, with activities focused on improving land management and helping communities deal with the effects of climate change.
According to the project appraisal document, “The Government of Nigeria has requested AF of $500 million to scale up demonstrated project results and strengthen the institutional, operational and financing arrangements needed to sustain integrated landscape management.” Under the proposed additional financing, $310 million would be directed towards dryland management, while $165 million would support community climate resilience. Another $25 million would be used for institutional strengthening and project management.
The second proposed facility is another $500 million for Nigeria’s Early Childhood Development programme. The World Bank has listed March 15, 2027, as the expected date for board consideration. The third facility, also valued at $500 million, is the Household Prosperity and Empowerment Social Protection Project, commonly referred to as HOPE SP. It is scheduled for consideration by the World Bank board on March 16, 2027.
The three proposed facilities would be provided through the World Bank’s International Development Association, which provides concessional financing to eligible developing countries. The proposed borrowing comes as Nigeria’s public debt continues to rise. Data reported from the Debt Management Office showed that the country’s public debt reached N166.79 trillion at the end of June 2026, compared with N152.40 trillion a year earlier. The latest proposed financing would therefore add to Nigeria’s pipeline of World Bank backed projects if all three facilities receive final approval.
World Bank data shows that Nigeria already has significant financing commitments with the institution. As of June 30, 2026, Nigeria’s outstanding IDA loans stood at about $19.03 billion, while its IBRD loans stood at about $1.62 billion. The Federal Government’s latest engagement with the World Bank is aimed at securing funding for programmes covering climate resilience, social protection and early childhood development.
However, the proposed $1.5 billion should not yet be treated as disbursed funds, as the three facilities remain subject to the World Bank’s approval process.
