ANN reports that the Federal Government has initiated plans to secure a fresh $1.75 billion loan from the World Bank, even as non-oil revenue has surged by 40.5% in the first eight months of 2025.
According to Bayo Onanuga, the President’s Special Adviser on Information and Strategy, Nigeria collected ₦20.59 trillion in revenues between January and August—up from ₦14.6 trillion during the same period in 2024. Non-oil revenue now accounts for 75% of total government receipts.
Despite this strong fiscal performance, borrowing remains essential. Documents from the World Bank indicate that the new $1.75 billion package, expected to be approved later this year, will be allocated across multiple key development sectors:
- $500 million for the Sustainable Agricultural Value-Chains for Growth project
- $500 million for a digital infrastructure programme to expand connectivity
- $250 million for a health security initiative
- $500 million to bolster inclusive financing for micro, small, and medium enterprises (MSMEs)
In addition, the World Bank’s records show Nigeria had already secured $8.4 billion in fresh credit lines from June 2023 to August 2025 across various economic reform and infrastructure projects
