Nigeria receives only 16% of World Bank loans approved by Tinubu

Nigeria has received only about 16% of the total loan approved by the World Bank under President Bola Tinubu’s administration.
An analysis of disbursement data from the World Bank’s website reveals that the loans, aimed at economic stabilization, infrastructure development, and social welfare, total $4.95 billion, however, as of July 31, 2024, only $774.99 million has been disbursed.
According to financial reports, The World Bank has approved a series of loans strategically targeting critical sectors, including economic reforms, resource mobilization, adolescent girls’ education, and renewable energy expansion.
Despite these approvals, a significant gap exists between the approved funds and actual disbursements, highlighting challenges in project execution and fund allocation, as Of the total loans, $4.16 billion remains undistributed.