The Federal Government is seeking a fresh $500 million loan from the World Bank to establish an infrastructure financing platform, with approval expected on May 25, 2027, just four days before the inauguration of Nigeria’s next president.
According to a report by The PUNCH, the proposed loan forms part of a broader $3.85 billion infrastructure financing initiative known as the Nigeria Infrastructure Financing and De-Risking Platform for Growth and Jobs (INFRAGROW).
The Federal Ministry of Finance is listed as the borrower, while the Nigeria Sovereign Investment Authority (NSIA) will serve as the implementing agency.
The proposed $500 million facility is expected to comprise $400 million from the International Bank for Reconstruction and Development and $100 million from the International Development Association.
