World Bank
Nigeria seeks fresh $300m W’Bank loan for health security
The Federal Government has engaged the World Bank for a new $300 million loan aimed at strengthening Nigeria’s health security infrastructure.
According to World Bank documents, the Nigeria Centre for Disease Control (NCDC) will implement the project, with the Federal Ministry of Finance acting as the borrower.
The initiative aims to enhance Nigeria’s capacity to prevent, detect, and respond to health emergencies.
The project is currently in the pipeline stage, with a disclosure date set for February 6, 2025.
The World Bank Board is expected to approve it on July 30, 2025, after necessary appraisals and assessments. Implementation will commence in the 2026 fiscal year.
The Nigeria Health Security Programme (HeSP) will focus on expanding molecular laboratory capacity, upgrading primary healthcare centres, establishing emergency operation centres and deploying mobile laboratories.
READ ALSO:
Others are constructing warehouses for medical supplies, installing water, sanitation, and hygiene facilities and integrating solar energy systems to power health infrastructure.
The initiative is part of efforts to strengthen Nigeria’s public health infrastructure, following lessons from past outbreaks, including COVID-19.
This latest loan request comes as Nigeria continues to rely heavily on external financing. Under President Bola Tinubu’s administration, the Federal Government has secured $6.95 billion in World Bank loans over the past 18 months.
Data from the Debt Management Office shows that Nigeria owes the World Bank $17.32 billion, with the International Development Association (IDA) accounting for $16.84 billion.
In the first nine months of 2024, Nigeria spent $3.58 billion servicing its foreign debt, a 39.77% increase from $2.56 billion during the same period in 2023.
Court Dismisses Sowore’s Suit Against DSS, Meta The Federal High Court in Abuja on Thursday…
Obidients Movement Escalates Pressure on INEC, Demands Joash Amupitan Step Down The Obidients Movement has…
Kano APC Chieftain Abdulsalami Ginsau Dies in Abuja Hotel Elevator Accident Tragic details have emerged…
VeryDarkMan Dares Sowore Over Blord’s Kuje Prison Remand Controversial social media activist VeryDarkMan has fired…
First Lady’s National Community Food Bank Programme Attracts Over ₦66bn Nigeria’s National Community Food Bank…
Muslim Nations Condemn Israel’s New Death Penalty Law for Palestinians Several Muslim-majority countries have strongly…