Nigeria is set to receive a fresh $500 million loan from the World Bank to support agriculture and improve food production across selected states.
According to official documents, the loan is expected to be approved on March 30, 2026. The full $500 million will come from the World Bank’s lending arm, the International Development Association (IDA).
The borrower is the Federal Republic of Nigeria, while the project will be handled by the Federal Ministry of Agriculture and Food Security together with participating state governments.
The fund is aimed at improving productivity for smallholder farmers, strengthening key agricultural value chains, creating more jobs
and tackling food and nutrition challenges
The project will focus on connecting small farmers to better markets, modernising farming systems, improving policies to attract private investors and ensuring proper monitoring and coordination
This new loan is coming at a time when Nigeria’s external debt continues to grow. Recent figures from the Debt Management Office show that:
•Nigeria’s total external debt stood at $46.98 billion as of June 30, 2025.
•The World Bank Group accounts for $19.39 billion of that amount.
•Loans from the International Development Association rose to $18.7 billion as of December 31, 2025.
The World Bank says agriculture remains key to solving Nigeria’s food insecurity and unemployment challenges.
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