FG seeks fresh $500m World Bank loan ahead of 2027 presidential inauguration

The Federal Government is seeking a fresh $500m World Bank loan to finance infrastructure development, with approval scheduled for May 25, 2027, just four days before Nigeria’s presidential inauguration.

The Federal Government is seeking a fresh $500m World Bank loan to establish an infrastructure financing platform, with approval scheduled for May 25, 2027, four days before Nigeria’s presidential inauguration.

According to The PUNCH, the proposed facility forms part of a $3.85bn initiative designed to attract private investment into critical infrastructure projects.

The World Bank’s Initial Project Information Document identifies the programme as the Nigeria Infrastructure Financing and De-Risking Platform for Growth and Jobs (INFRAGROW).

The Federal Ministry of Finance will serve as borrower, while the Nigeria Sovereign Investment Authority will implement the project.

The loan comprises $400m from the International Bank for Reconstruction and Development and $100m from the International Development Association.

The bank estimates Nigeria’s annual infrastructure financing deficit at $100bn, citing inadequate investment and weak project preparation.

The proposed borrowing comes amid preparations for the 2027 general elections, raising concerns about financial commitments ahead of the presidential transition.

The facility remains subject to approval.