The Federal Government is seeking $1.5bn in fresh financing from the World Bank to expand social protection, improve early childhood development and scale up climate-resilient interventions. World Bank documents seen by Daily Trust show the proposed financing comprises three separate $500m International Development Association credits rather than a single $1.5bn loan, targeted at household welfare, human capital development and climate resilience. The proposed borrowing comes as Nigeria's public debt rose by N79.41tn within three years, from N87.38tn in June 2023 to N166.79tn at the end of June 2026, a 47.61 per cent increase. In dollar terms, the public debt stock rose by $21.27bn, from $111.34bn to $120.93bn within the period.
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