Nigeria’s Accountant-General of the Federation, Dr Shamseldeen Ogunjimi, has warned that the federal government may reconsider its loan arrangements with the World Bank if delays in approvals and disbursements continue to hinder project implementation.
The warning followed concerns over the slow pace at which loan facilities are being processed, despite their importance to national development projects. Ogunjimi stressed that the funds involved are repayable loans, not grants, and therefore should not be subjected to prolonged delays that could disrupt government planning and execution.
He noted that in some cases, approvals take more than six months, a situation he said could force Nigeria to reassess its participation in such financial agreements. According to him, timely access to funding is essential to ensure projects are delivered within schedule and development objectives are not compromised.
