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FG seeks fresh $1bn World Bank loan
FG seeks fresh $1bn World Bank loan
Nigeria has formally requested a $1 billion loan from the World Bank under a new programme aimed at accelerating private investment, job creation, and economic diversification. The initiative, titled Nigeria Actions for Investment and Jobs Acceleration (P512892), falls within the Bank’s Development Policy Financing (DPF) framework and is scheduled for board review on December 16, 2025.
Loan Structure and Debt Concerns The proposed facility comprises $500 million in International Development Association (IDA) credit and $500 million from the International Bank for Reconstruction and Development (IBRD). If approved, it would mark Nigeria’s second-largest loan under President Bola Tinubu, following the $1.5 billion RESET programme secured in June 2024.
However, the move has sparked debate among analysts, who warn of a potential debt trap if repayment strategies are not clearly defined. As of June 2025, Nigeria’s external debt stood at $46.98 billion, with the World Bank Group accounting for $19.39 billion—41.3% of the total—making it Nigeria’s largest creditor.
Reform-Driven Growth Agenda According to the World Bank, the new operation is designed to shift Nigeria from short-term macroeconomic stabilisation to long-term, private-sector-led growth. Key reform targets include:
- Expanding access to credit
- Strengthening digital financial systems
- Boosting productivity in agricultural value chains
- Deepening capital markets
- Easing inflationary pressures
- Promoting export diversification
The loan will also support the implementation of the Investment and Securities Act 2025, operationalisation of credit-enhancement facilities, and a new Central Bank of Nigeria rulebook focused on consumer protection and risk-based regulation.
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Digital and Trade Reforms Digital transformation is a central pillar of the programme, with backing for the National Digital Economy and E-Governance Bill 2025. This legislation aims to formalise electronic transactions, authentication services, and data governance.
To reduce production and living costs, the World Bank recommends reforms to Nigeria’s trade regime, including:
- AfCFTA tariff concessions
- Simplified import procedures
- Streamlined certification for strategic crops like maize, rice, and soybeans
These measures are expected to lower food inflation and enhance export competitiveness.
Complementary Programmes and Impact The $1 billion loan will be implemented alongside three complementary World Bank initiatives—FINCLUDE, BRIDGE, and AGROW—focused on inclusive finance, digital infrastructure, and sustainable agriculture.
The Bank projects that the combined reforms will:
- Create jobs
- Lower living costs
- Expand credit access for MSMEs
- Improve agricultural productivity
- Raise rural incomes
- Strengthen food security
Progress and Challenges The report commended Nigeria’s recent reforms, including the removal of fuel subsidies, forex unification, and improved revenue administration, noting their role in stabilising the economy and restoring investor confidence.
Nonetheless, challenges persist. Nigeria’s per-capita income remains below pre-2015 levels, and over 130 million citizens still live in poverty. The new facility aims to bridge this gap by unlocking inclusive, private-sector-driven development.
FG seeks fresh $1bn World Bank loan
metro
Gunmen Kidnap Two Pregnant Women, Three Others in Sokoto Village
Gunmen Kidnap Two Pregnant Women, Three Others in Sokoto Village
Sokoto, Nigeria — Armed bandits have abducted five people, including two heavily pregnant women, during a violent attack on Maiwa Village in the Sabon Birni Local Government Area of Sokoto State. The incident occurred on Saturday, March 28, 2026, raising fresh concerns about security in the region.
A local resident, speaking anonymously, said the attackers arrived on seven motorcycles around 5 p.m., firing shots into the air to intimidate villagers. Many residents had gathered at the mosque when the bandits struck.
“They came and met us at the mosque, and before they shot in the air, I ran toward the police post,” the source said. “But the police fled when two bandits pursued me on motorcycles. After I escaped, the attackers went into homes and abducted the victims.”
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The kidnapped victims have been identified as Sadiya Umar, Firdausi Umar, Maryam Musa, Ubaida Musa, and Harira Nura. Both Sadiya and Ubaida are reportedly heavily pregnant and due to deliver soon.
In addition to the kidnappings, the bandits rustled 12 cows from the village but later returned them. Following the attack, several residents fled to neighboring Niger Republic in fear but returned on Sunday morning.
Efforts to obtain an official response from the Sokoto State Police Command proved unsuccessful, as the state spokesperson, DSP Ahmad Rufai, did not respond to calls or messages.
This attack underscores the persistent insecurity in northwestern Nigeria, where rural communities often face raids, abductions, and displacement due to bandit activity.
Gunmen Kidnap Two Pregnant Women, Three Others in Sokoto Village
metro
Debate as OPM Pastor Marries Autistic Man to Older Woman
Debate as OPM Pastor Marries Autistic Man to Older Woman
The founder of Omega Power Ministries, Chibuzor Chinyere, has officiated the marriage of a young man living with Autism Spectrum Disorder to an older single woman, a development that has sparked widespread debate over consent, disability rights, and ethics in Nigeria.
The wedding, held on Sunday, March 29, followed days of intense backlash after the cleric made a viral appeal seeking a wife for the man, identified as Aboy Chibuzor.
According to the pastor, the groom—who lives with Autism Spectrum Disorder—was abandoned as a child at the church gate and has remained under his care. He explained that the man is non-verbal and dependent on assistance for daily activities, including feeding, bathing, and routine care, while his biological family remains unknown. Chinyere said the marriage was arranged to provide the man with companionship and long-term support, insisting that the intention was to improve his quality of life.
As part of the union, the pastor announced a series of financial and welfare packages for the couple, including a ₦10 million wedding gift, a house accommodation, and an overseas vacation, alongside a pledge of ₦20 million after 10 years. He also revealed that members of the church contributed additional financial support, further boosting the couple’s welfare.
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The marriage comes after significant criticism from members of the public who described the initial proposal as demeaning to women and ethically questionable. In response, the cleric issued an apology, stating he “can never degrade any woman,” while maintaining that his actions were driven by compassion and responsibility for the man under his care.
Following the wedding, the pastor expressed optimism, noting what he described as early progress in the groom’s condition, including the ability to feed himself independently. He also expressed faith that the man could eventually speak, attributing the changes to divine intervention.
Despite the pastor’s assurances, the development has continued to raise serious concerns among observers and experts, particularly around the capacity for informed consent, the power dynamics between caregiver and dependent, and the absence of independent medical or legal evaluation. Critics argue that while individuals with autism have the right to relationships, proper safeguards must be in place to prevent exploitation.
The incident has reignited national conversations about marriage rights for persons with disabilities, highlighting the need for clearer legal frameworks that balance autonomy with protection. As discussions continue, many stakeholders are calling for stronger oversight and guidelines to ensure that vulnerable individuals are not placed at risk under the guise of care or support.
Debate as OPM Pastor Marries Autistic Man to Older Woman
metro
Jos Attack: Plateau Govt Declares 48-Hour Curfew After Deadly Assault
Jos Attack: Plateau Govt Declares 48-Hour Curfew After Deadly Assault
The Plateau State Government has imposed a 48-hour curfew in Jos North following a deadly terror attack in Jos that claimed several lives and left many others injured.
The curfew, which began at midnight on March 29 and will run until April 1, was announced by the State Commissioner for Information and Communication, Joyce Ramnap, as part of urgent steps to contain the situation and restore order.
The decision comes after suspected terrorists launched a coordinated assault on Gari Ya Waye community in Angwan Rukuba, an area within Jos, on Sunday evening.
Eyewitnesses said the attackers, riding on motorcycles, stormed the area at about 7:30 pm, opening fire indiscriminately on residents who were going about their normal activities. The sudden gunfire caused panic, forcing many to flee, while others were caught in the violence.
Although the exact number of casualties is yet to be officially confirmed, multiple residents were reportedly killed, with several others sustaining injuries. Homes and properties were also affected in the attack.
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Describing the incident as a “barbaric and unprovoked attack,” the Plateau State Government said the curfew in Jos North is necessary to prevent further violence, enable security agencies to regain control, and protect lives and property.
Under the directive, residents are required to stay indoors throughout the curfew period, except for essential services operating under strict security supervision.
Security has since been reinforced across the area, with the Nigeria Police Force, military, and other agencies deploying additional personnel. Authorities have launched intelligence operations, stop-and-search checks, and patrols to track down those responsible for the attack.
The government has urged residents to remain calm, cooperate with security operatives, and provide credible information that could assist ongoing investigations.
Officials also extended condolences to families of victims, assuring that efforts are underway to ensure justice is served.
The latest incident underscores growing concerns over security in Plateau State, as communities continue to grapple with recurring violence. Analysts say sustained security presence and improved intelligence gathering will be key to preventing further attacks.
Jos Attack: Plateau Govt Declares 48-Hour Curfew After Deadly Assault
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