Proposed facility, scheduled for approval on May 25, 2027, is part of a $3.85bn infrastructure financing initiative, with the Federal Ministry of Finance listed as borrower and NSIA as implementing agency.

The Federal Government is seeking a fresh $500 million loan from the World Bank to establish an infrastructure financing platform, with the proposed approval date falling just four days before the end of President Bola Tinubu’s current tenure.

According to a report, the proposed facility is part of a broader $3.85 billion infrastructure financing initiative known as the Nigeria Infrastructure Financing and De-Risking Platform for Growth and Jobs (INFRAGROW).

The initiative is designed to support infrastructure financing and attract investment into projects expected to drive economic growth and create jobs across the country.

Details of the proposal indicate that the Federal Ministry of Finance will serve as the borrower, while the Nigeria Sovereign Investment Authority (NSIA) will be responsible for implementing the programme.

The proposed $500 million loan will comprise two separate facilities: $400 million from the International Bank for Reconstruction and Development (IBRD) and another $100 million from the International Development Association (IDA).

The World Bank has tentatively scheduled the approval of the facility for May 25, 2027.

The timing is particularly significant as President Tinubu’s current four-year tenure is expected to end on May 29, 2027, when Nigeria is scheduled to inaugurate its next president.

If approved as scheduled, the loan would come just days before the transition to a new administration, potentially making the financing proposal an important issue in discussions about the country's debt obligations and infrastructure development priorities.

However, the proposed facility has not received final approval from the World Bank. The May 25, 2027 date remains tentative and could still be adjusted.

The proposed loan is therefore not yet a completed borrowing arrangement, as it remains subject to the World Bank's approval process.

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