The World Bank is set to approve two major loans totaling $750 million for Nigeria on Tuesday, September 30, 2025, according to details published on the bank’s official website.
The financing package comprises a $500 million facility for the Building Resilient Digital Infrastructure for Growth in Nigeria (BRIDGE) project and a $250 million loan under the Health Security Programme in Western and Central Africa – Phase II.
Both initiatives are currently listed in the World Bank’s active pipeline, with approval scheduled during the institution’s upcoming board meeting.
The BRIDGE project, coordinated by Nigeria’s Federal Ministry of Communications, Innovation and Digital Economy, is designed to boost broadband connectivity in underserved regions.
With an estimated cost of $1.6 billion, the World Bank will provide concessional credit via the International Development Association, while additional funding is expected from the African Development Bank, the European Investment Bank, the Islamic Development Bank, and private investors.
Communications Minister Dr. Bosun Tijani described the initiative as “the most ambitious and foundational digital infrastructure project in Nigeria’s history,” highlighting its scope to expand fibre networks from 35,000 kilometres to over 125,000 kilometres, linking all six geopolitical zones and major cities.
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Meanwhile, the $250 million health sector loan will be managed by the Nigeria Centre for Disease Control and Prevention under the supervision of the Federal Ministry of Finance.
It forms part of a regional programme aimed at strengthening pandemic preparedness, surveillance, and emergency response systems across West and Central Africa.
Nigeria has received significant World Bank support in recent years. Between June 2023 and August 2025, the country secured $8.4 billion in new loans across 15 projects spanning energy, health, education, governance, and rural development, according to World Bank data.
However, concerns about Nigeria’s growing debt profile persist. Economist Adewale Abimbola noted that borrowing could be beneficial if tied to viable, revenue-generating projects, stressing the importance of accountability.
In contrast, development economist Dr. Aliyu Ilias warned that Nigeria’s rising debt stock—climbing from ₦87 trillion in 2023 to about ₦149 trillion in 2025—risks crowding out funds for infrastructure, education, and job creation.
Data from the Debt Management Office shows that Nigeria’s debt to the World Bank rose to $18.23 billion by March 2025, making the institution the country’s single largest multilateral lender, accounting for 39.7% of external debt stock and over 81% of total multilateral debt.
Image credit: Nigerian Eye
