Nigeria seeks $1.5 billion in loans from World Bank amid rising public debt
The Federal Government is negotiating three loans with the World Bank as public debt hits N166.79 trillion.

The Federal Government of Nigeria has initiated discussions with the World Bank for three new loans totaling $1.5 billion. This move comes as the country's public debt has reached a staggering N166.79 trillion as of June 2026. According to documents obtained from the World Bank, the proposed financing includes three separate facilities of $500 million each, aimed at enhancing climate resilience, social protection, and early childhood development.
In a separate development, the Chairman of the Independent National Electoral Commission (INEC), Prof. Joash Amupitan, has reiterated the commission's commitment to neutrality ahead of the upcoming 2027 general elections. He emphasized that INEC has no allegiance to any political party or candidate, highlighting that elections are fundamentally about the social contract between citizens and their leaders.
Meanwhile, President Bola Ahmed Tinubu has postponed his return to Nigeria from a working vacation in Europe, with his new expected arrival set for Tuesday, September 29. Initially scheduled to return over the weekend, the President's itinerary has been revised, delaying his homecoming.
The Nigerian Association of Resident Doctors (NARD) has issued a two-week ultimatum to the Federal Government to address outstanding welfare and professional issues affecting its members. This decision was made during the association's 46th Annual General Meeting held in Calabar, Cross River State, where members expressed their dissatisfaction with the current situation.
On the security front, the National Drug Law Enforcement Agency (NDLEA) has made a significant drug seizure at the Murtala Muhammed International Airport in Lagos. The agency intercepted 2.55 million opioid pills weighing 1,640.55 kg in three separate consignments, according to a statement from its Director of Media and Advocacy, Femi Babafemi.
In Ogun State, police have arrested 11 suspects and recovered 25 Automated Teller Machine cards, three firearms, and two suspected stolen vehicles during an extensive security operation spanning 11 days. The arrests included a 45-year-old man, Ameachine Anthony, who is implicated in a N2.5 million fraud case.
The Federal Government has also approved a comprehensive modernization plan for four major ports in the eastern and southern corridors. This initiative aims to expand Nigeria’s cargo-handling capacity and alleviate the concentration of maritime traffic in Lagos. The ports set for upgrade include Onne Port in Rivers State, Rivers Port, Delta Port, and Calabar Port in Cross River State.
In the northern regions, troops from the Joint Task Force North West, known as Operation Fansan Yamma, successfully killed a suspected terrorist and rescued six kidnap victims during operations in Sokoto and Zamfara states. The operations also led to the recovery of an AK-47 rifle, ammunition, and a foreign military uniform.
However, the security situation remains tense as bandits attacked the Illelar Dawagari community in Kagara Ward, Goronyo Local Government Area of Sokoto State, abducting nine residents, shooting another, and rustling over 200 livestock during the raid on Saturday night.
In a tragic incident, the Health Secretary of Malumfashi Local Government Area in Katsina State, Sa’adu Dantutture, was abducted and subsequently killed by bandits shortly after returning to his hometown of Dantutture on Wednesday night. Dantutture was previously the Director of Primary Healthcare in Funtua Local Government Area, and his death has raised concerns over the escalating violence in the region.
Sources
- DailyPost Original article