Nigeria is seeking a further $1.5 billion in financing from the World Bank through three separate proposed facilities aimed at addressing climate challenges, strengthening social protection and improving early childhood development.
The proposed borrowing comes as the country’s public debt stood at a record N166.79 trillion at the end of June 2026.
World Bank documents indicate that each of the three proposed facilities would be worth $500 million.
One of the projects already at an advanced stage of consideration is additional funding for Nigeria’s Agro-Climatic Resilience in Semi-Arid Landscapes programme, or ACReSAL.
The World Bank is expected to consider the proposed $500 million additional financing on October 29, 2026.
The Federal Republic of Nigeria is listed as the borrower, while the Federal Ministry of Environment is responsible for implementation.
What the ACReSAL money will fund
The proposed financing would expand ACReSAL from its existing $700 million size to $1.2 billion.
The World Bank’s International Development Association would provide the entire additional financing.
The project is designed to strengthen Nigeria’s ability to manage environmental and climate-related challenges, particularly in vulnerable and semi-arid areas.
The additional funding is expected to finance activities including restoration of degraded landscapes, watershed rehabilitation, erosion control and flood management.
Other proposed interventions include irrigation and drainage systems, water harvesting and storage, reforestation and other measures aimed at improving community resilience to climate-related risks.
The World Bank document said the Nigerian Government requested the additional financing to expand demonstrated project results while strengthening institutional, operational and financing arrangements for sustainable landscape management.
$310m proposed for dryland management
Under the proposed $500 million ACReSAL expansion, the largest allocation would be $310 million for dryland management.
A further $165 million would be directed towards community climate resilience, while $25 million would be used for institutional strengthening and project management.
The proposal is part of a wider financing discussion between Nigeria and the World Bank involving three separate $500 million facilities.
The other proposed facilities are intended to support social protection and early childhood development.
The move to secure additional external financing comes as Nigeria’s public debt continues to rise, reaching N166.79 trillion at the end of June 2026.
The proposed facilities remain subject to the World Bank’s consideration and approval processes.
