The Federal Government is seeking three new loans totalling $1.5bn from the World Bank as Nigeria’s total public debt rose to ₦166.79tn at the end of June 2026.
The proposed financing comprises three separate $500m facilities for climate resilience, social protection and early childhood development, according to World Bank documents.
The first is a $500m additional financing for the Agro-Climatic Resilience in Semi-Arid Landscapes project, known as ACReSAL. The World Bank has scheduled October 29, 2026, for consideration of the proposal, with the Federal Ministry of Environment listed as the implementing agency.
The additional financing would increase the size of the ACReSAL project from $700m to $1.2bn. It is expected to support land restoration, flood and erosion management, irrigation, water harvesting and storage, reforestation and other climate-resilience measures across 19 northern states and the Federal Capital Territory.
Another $500m facility is proposed for the Household Prosperity and Empowerment-Social Protection Project. The programme is expected to support targeted cash transfers, modernise the social registry and strengthen social protection systems at the federal, state and local government levels.
The third proposed facility is a $500m credit for the Nigeria Early Childhood Development programme, which is expected to cover all 36 states and the FCT. The programme will focus on improving access to health, nutrition, early learning, childcare, water and sanitation services for children aged zero to five.
The proposed borrowing comes as Nigeria’s public debt continues to rise. Data from the Debt Management Office showed that total public debt increased by ₦14.39tn, or 9.44 per cent, from ₦152.40tn in June 2025 to ₦166.79tn in June 2026.
Domestic debt accounted for ₦91.59tn of the total debt stock, while external debt stood at ₦75.20tn. In dollar terms, total public debt rose from $99.66bn to $120.93bn during the same period.
The proposed facilities are at different stages of preparation and approval and have therefore not been fully approved or disbursed. The ACReSAL financing is scheduled for consideration on October 29, 2026, while the other two projects are expected to reach the approval stage in March 2027.