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The World Bank is set to approve $750 million in new loans for Nigeria on September 30, 2025, aimed at boosting digital infrastructure and public health capacity.

Loan Breakdown:

  • $500 million for the BRIDGE Project, supporting broadband expansion in underserved areas.
  • $250 million for Health Security Program – Phase II, strengthening disease surveillance and emergency response.

Key Details:

  • The BRIDGE project, led by the Ministry of Communications, is part of a broader $2 billion fibre-optic initiative to grow Nigeria’s network from 35,000km to 125,000km.
  • The health loan will help Nigeria improve pandemic preparedness and align with regional efforts in West and Central Africa.
  • Both loans are concessional and part of Nigeria’s broader $8.4 billion World Bank borrowing between June 2023 and August 2025.

Rising Debt Concerns:

  • Nigeria’s total debt to the World Bank hit $18.23 billion by March 2025, up from $17.81 billion in late 2024.
  • The World Bank now holds nearly 40% of Nigeria’s external debt and over 81% of its multilateral debt.
  • Economists warn that despite increased revenues from subsidy removal and tax reforms, Nigeria’s debt burden is growing rapidly, with projections reaching N180 trillion.
  • Experts stress the need for transparency, accountability, and revenue-generating implementation to justify the continued borrowing.

Outlook:

While the loans aim to strengthen infrastructure and healthcare, analysts caution that poor fund management and rising debt service costs could jeopardize long-term growth.