$65m Loan: World Bank Boosts Nigeria’s Procurement and Environmental Standards Drive
The World Bank has approved an additional $65 million loan for Nigeria under the Sustainable Procurement, Environmental, and Social Standards Enhancement (SPESSE) project, raising the total financing to $145 million.
According to the World Bank’s official project portal, the approval was granted on June 24, 2025, with the project status updated to “active.” The SPESSE project, which began in 2021 following an initial $80 million loan approved in February 2020, is aimed at strengthening Nigeria’s institutional frameworks in procurement, environmental, and social governance.
“The project development objective is to develop sustainable capacity in managing procurement, environment, and social standards in the public and private sectors,” the World Bank said.
The SPESSE initiative is part of a broader financial engagement between the World Bank and Nigeria. Additional financing worth $1.61 billion is currently in the pipeline, covering projects across displacement support, agriculture, healthcare, and digital infrastructure.
Among the pending loans is a $300 million facility for the ‘Solutions for the Internally Displaced and Host Communities Project’, scheduled for finalisation by July 31, 2025.
“The objective of the Project is to improve access to basic services and economic opportunities for internally displaced persons (IDPs) and host communities in target local government areas (LGAs) in northern Nigeria,” the bank noted.
Further loan approvals expected in September 2025 include $10.5 million for a CBN Technical Assistance Facility, $300 million for a health security program in Western and Central Africa, and $500 million for the Building Resilient Digital Infrastructure for Growth (BRIDGE) project.
Another $500 million is slated for the Nigeria Sustainable Agricultural Value-Chains for Growth project, due for approval in December.
Earlier in March 2025, Nigeria received $1.13 billion in World Bank financing for education, nutrition, and household resilience programs.
