The administration of President Bola Ahmed Tinubu is currently in discussions with the World Bank over a new $1.25 billion credit facility as Nigeria’s overall public debt nears ₦161 trillion.
Sources within government disclosed that the proposed funding is expected to support initiatives aimed at strengthening the economy, advancing fiscal reforms, improving the business environment, and boosting employment opportunities.
If the deal receives approval, it would become one of the biggest loans obtained by the present government, coming after major economic measures such as the removal of fuel subsidies and reforms in the foreign exchange market.
