Tinubu’s Plans for Nigerians Inside the Fresh $2.42bn World Bank Loan

• The Federal Government has unveiled a fresh $2.42 billion World Bank loan to fund healthcare, education, food security, governance and support for vulnerable Nigerians as President Bola Tinubu seeks to cushion the impact of ongoing economic reforms.

The administration of President Bola Tinubu has unveiled a fresh $2.42 billion World Bank-backed intervention programme aimed at improving healthcare, education, food security, governance and social welfare across Nigeria.

The programmes, launched at the State House in Abuja, form part of the Federal Government’s strategy to cushion the impact of ongoing economic reforms while expanding support for vulnerable households and strengthening public services.

The funding package includes support for livelihood programmes, internally displaced persons, primary healthcare, education and governance reforms.

According to the Minister of State for Budget and Economic Planning, Dr. Doris Uzoka-Anite, the new financing totals about $2.42 billion, comprising:

• $500 million additional financing for the Nigeria Community Action for Resilience and Economic Stimulus (NG-CARES) programme.
• $300 million for the Solutions for the Internally Displaced and Host Communities (SOLID) project.
• $500 million for HOPE-Governance.
• $570 million for HOPE-Primary Healthcare.
• About $552 million for HOPE-Education, including support from the Global Partnership for Education.

President Tinubu said the programmes are designed to ensure that the gains from his administration’s economic reforms are reflected in the daily lives of Nigerians.

Represented by the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, the President acknowledged that although the reforms are beginning to deliver positive economic results, ordinary Nigerians must also experience tangible improvements.

“Positive results are emerging from our reforms. Robust growth is returning. Confidence is rising. But that progress must be felt in every household, not just in national statistics,” Tinubu said.

He described the programmes as key tools for transforming economic reforms into improved livelihoods, better healthcare, quality education and stronger social protection.

FG Says More Funding Needed

Minister of Budget and Economic Planning, Abubakar Bagudu, admitted that while the removal of fuel subsidies and other reforms had freed up government resources, they remain insufficient to address Nigeria’s growing social challenges.

According to him, this explains the need for continued support from the World Bank and other development finance institutions.

What the Programmes Will Fund

The expanded NG-CARES programme will provide livelihood support, food security interventions and grants to vulnerable households, farmers and small businesses.

The HOPE initiative will focus on improving governance, strengthening primary healthcare services and expanding access to quality education.

Meanwhile, the SOLID programme is expected to improve infrastructure, healthcare, schools, water supply and economic opportunities for internally displaced persons and their host communities, particularly in northern Nigeria.

The Federal Government said the programmes are structured around measurable performance targets, meaning states and implementing agencies must meet agreed benchmarks before receiving additional funding.

Education and Healthcare

Minister of Education, Dr. Maruf Alausa, disclosed that the HOPE-Education programme will benefit nearly 30 million children, support more than 500,000 teachers, and improve thousands of public schools and non-formal learning centres across Nigeria.

Similarly, Coordinating Minister of Health and Social Welfare, Prof. Muhammad Ali Pate, said more than 3,000 primary healthcare centres have already been revitalised, while another 1,900 facilities are expected to be completed.

According to him, the reforms have also led to the retraining of over 78,000 health workers and increased patient visits to primary healthcare centres.

Nigeria’s Rising Debt

The announcement comes as Nigeria continues to rely heavily on concessional loans from the World Bank to finance critical development projects.

According to data from the Debt Management Office (DMO), Nigeria’s total public debt stood at ₦159.28 trillion as of December 2025.

The country’s debt to the World Bank also increased to approximately $19.89 billion, making the institution one of Nigeria’s largest external creditors.

Despite concerns over rising debt, the Federal Government insists the loans are intended to build long-term institutions, improve public services and reduce poverty.

The World Bank has also maintained that the success of the programmes will depend on transparency, accountability and effective implementation by federal and state governments.

If successfully executed, the initiatives are expected to improve access to healthcare, education, food security and social protection for millions of Nigerians while helping cushion the economic impact of ongoing reforms.