President Bola Ahmed Tinubu may be seeking fresh $1.25 billion loan from the World Bank. The explanation for the fresh amid the mountain of debt burden Nigeria shoulders, is that the loan will be utilized to finance economic reforms, job creation, and investment growth.

It was disclosed that the loan, valued at about ₦1.7 trillion, identified as Nigeria Actions for Investment and Jobs Acceleration, may be approved by the World Bank board on June 26, 2026.

World Bank documents specified that the loan aims to expand access to finance, electricity and digital services, while strengthening competitiveness through tax, trade and agriculture reforms. The project, was said to have reached the final decision stage, with negotiations nearly concluded.

Nigeria is already indebted to the World Bank to a total sum of $9.35 billion between June 2023 and May 2026. The fresh loan, when approved, will increase the total World Bank debt to $10.6 billion in the Tinubu administration. The will increase Nigeria’s public debt to over ₦160 trillion.