News
FG Seeks Fresh $580m W’Bank Loans

The Federal Government is engaging the World Bank for two fresh loans totalling $580m, which are expected to be approved in March 2025, according to findings by The PUNCH.
Information obtained from the website of the World Bank on Wednesday showed that the funding is aimed at improving nutrition and education initiatives, with two projects currently listed in the bank’s pipeline.
The projects, Accelerating Nutrition Results in Nigeria 2.0 and HOPE for Quality Basic Education for All, are expected to receive final approvals on March 27 and March 20, 2025, respectively.
The HOPE for Quality Basic Education for All programme has a commitment of $552.18m, with $500m coming from the World Bank and an additional $54m from other sources.
The initiative is designed to tackle Nigeria’s education crisis, where over 17 million children remain out of school.
It is expected to enhance early childhood education, primary and junior secondary schooling, as well as expand access to learning resources.
The programme will be implemented by the Federal Ministry of Finance in collaboration with the Federal Ministry of Education and the Universal Basic Education Commission.
The project remains in the ‘Concept Review’ phase, requiring further consultations before being finalised.
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The second loan project, the Accelerating Nutrition Results in Nigeria 2.0 project, is expected to secure $80m from the World Bank to address malnutrition and food insecurity.
The PUNCH further observed that $232m was approved on June 27, 2018, for the Accelerating Nutrition Results in Nigeria.
This initial loan project was faced with a number of challenges, leading to some changes, including the cancellation of some amount from the total approved loan.
However, the Federal Government is currently engaging the World Bank to get an extra loan for a second part of this project.
The PUNCH further observed that the approval day for the second part was moved from February 20, 2025, to March 20.
As Nigeria continues to struggle with a high rate of stunting among children, the project seeks to improve access to quality nutrition services, particularly for pregnant women, lactating mothers, adolescent girls, and children under five.
It will be implemented through primary healthcare facilities and community-based programmes.
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Also, it will include interventions such as nutrition-smart agriculture to bolster household food security and dietary diversity.
Part of the funding will support project management, government coordination, and data-driven decision-making to enhance long-term sustainability.
This project is currently at the ‘Decision Meeting’ stage, indicating it is closer to final approval compared to the education initiative.
The approval of these loans is expected to enhance Nigeria’s human capital development by improving education and nutrition outcomes.
The World Bank has been a key development partner, funding various projects to address socioeconomic challenges in the country.
However, concerns persist over Nigeria’s growing debt burden, with economists questioning the government’s borrowing strategy.
It was observed that the Federal Government, under the leadership of President Bola Tinubu, has secured loans worth $6.95bn from the World Bank in about 18 months.
Not less than 10 loan projects have been approved by the World Bank under the current administration.
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According to data from the external debt report released by the Debt Management Office, the World Bank’s share of Nigeria’s debt totals $17.32bn, with the majority owed to the International Development Association, which accounts for $16.84bn, which represents 39.14 per cent of Nigeria’s total external debt.
The International Bank for Reconstruction and Development, another arm of the World Bank, is owed $485.08m, or 1.13 per cent.
The PUNCH earlier reported that the Federal Government spent $3.58bn servicing its foreign debt in the first nine months of 2024, representing a 39.77 per cent increase from the $2.56bn spent during the same period in 2023.
This was according to data from the Central Bank of Nigeria on international payment statistics.
The significant rise in external debt service payments shows the mounting pressure on Nigeria’s fiscal balance amid ongoing economic challenges.
The World Bank, in its recent International Debt Report, revealed that developing nations spent an unprecedented $1.4tn on foreign debt servicing in 2023, driven by a surge in interest rates to their highest levels in 20 years,
Interest payments alone reached $406bn, a nearly 30 per cent increase from the previous year, severely impacting spending in critical sectors such as health, education, and environmental programs.
According to the report, the most vulnerable economies, those eligible for loans from the World Bank’s International Development Association, bore the brunt of the financial strain.
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In a statement on Monday, the Federal Government reaffirmed its commitment to reducing reliance on external debt financing and driving economic independence through strategic partnerships with the World Bank.
The Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, made this known during a meeting with the World Bank Executive Director, Dr Zainab Shamsuna Ahmed, where he outlined Nigeria’s shift towards private sector-led growth.
The statement read, “Edun emphasised that President Tinubu remains focused on strengthening Nigeria’s economic foundation, reducing dependency on external borrowing, and ensuring long-term, private-sector-led development.”
Edun acknowledged the critical role played by the World Bank in Nigeria’s development but stressed that the government is prioritising a business-friendly environment to attract sustainable investments.
This is part of a broader strategy to explore alternative financing models beyond traditional multilateral loans.
The administration’s economic plan focuses on fostering fiscal responsibility while ensuring that private capital is mobilised to drive economic expansion and job creation.
Ahmed, who previously served as Nigeria’s Minister of Finance, commended the government’s macroeconomic reforms, which she noted have improved fiscal stability and bolstered investor confidence.
She also highlighted recent financial reforms within the World Bank that have strengthened its lending capacity, unlocking an additional $150bn in funding over the next decade.
This, she said, presents an opportunity for Nigeria to tap into strategic support while maintaining fiscal discipline.
PUNCH
News
[JUST IN] Trump’s Threat: Nigeria Ready To Work With US, Other Countries To Wipe Out Terrorists – FG

The Federal Government has said Nigeria is willing to work with the United States and other countries to wipe out remnants of terrorists and criminal elements in Nigeria.
Minister of Information and National Orientation, Mohammed Idris, stated this during a world press conference in Abuja on Wednesday.
While acknowledging that Nigeria is faced with insecurity challenges, he clarified that it is not targeted at any religion or group, as peddled by faulty data.
He saud in the last two years, President Bola Tinubu has deepened his commitment to dealing with insecurity, evident in the country’s improved standing on the Global Terrorism Index and recent change of security service chiefs.
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He called on the United States and other nations to support President Tinubu in ridding the menace of criminals and terrorists making life unbearable for Nigerians.
“The Nigerian government is willing to work with other international bodies, including the United States, to ensure that criminals are permanently wiped out.
“We welcome support from international partners, including the US, to deal with its security challenges.
“President Tinubu is taking the lead to resolve all challenges with the US, including other countries.
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“Nigeria is not running away from the fact that we have a big insecurity situation.
“The government and people of Nigeria have taken note of the US stance over the alleged violation of human rights.
“President Tinubu is determined to confront and end security challenges,” he said.
Recall that last week, US President Donald Trump threatened military action in Nigeria if nothing is done about alleged killings of Christians.
This comes after Trump designated Nigeria as a ‘Country of Particular Concern’.
News
Edo Twin Babies Died Of Natural Causes — Autopsy Report

An autopsy report regarding the death of twin babies who were referred to a medical facility in Benin has revealed that the babies died naturally.
The twin babies were referred to Med-Vical Medical Centre, Benin, on August 2025 in a severely ill condition and extremely premature.
The babies died in the hospital which led to family members and friends accusing the hospital of masterminding the death of the twins through negligence.
The widespread of allegations prompted the Edo State Police Command to initiate an investigation into circumstances surrounding the death of the babies.
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In the autopsy report conducted by a team of pathologists —Dr. Ducan Iyawe, Dr. D.E Imasogie, Dr. K.O Abinokhauno, and Dr Ijomone, and made available to newsmen on Wednesday, it was revealed that the baby died of natural causes.
The final report was read in the presence of the Edo State Commissioner of Police, the state Ministry of Health, and the Nigerian Medical Association (Edo State Chapter) on Wednesday.
The findings listed the cause of death as foetal squames in the lungs leading to respiratory distress, acute foetal asphyxia, neonatal sepsis and bronchopneumonia
“The autopsy has shown clearly that the baby died of natural causes and there was in fact no case of negligence, secrecy, or any form of malpractice as alleged,” the report stated.
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The medical team emphasized that all the babies’ organs were intact, adding that death resulted from complications associated with extreme prematurity and severe illness.
“The twin babies were originally delivered prematurely in another hospital, referred to another private facility before subsequent referral to Med-Vical Medical Centre for advanced neonatal intensive care and life support.
“Despite the hospital’s intervention, the infants could not survive the severe complications linked to their early birth and critical conditions,” the report stated.
Reacting to the report, Ms. Onyedikachi Nwizu of Med-Vical Medical Centre’s Management, expressed relief at the findings, but described the allegations as “false, malicious, and devilish.”
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She disclosed that though pained by the loss of the babies, the hospital had instructed its legal team to take steps to redeem its reputation, which had been “seriously dented” by the false accusations.
Recall that parents of the babies, Mr Jerry Sylvester and Mrs. Edwina Jerry had earlier petitioned the Edo State Commissioner of Police, accusing Med-Vical of professional misconduct and concealment.
Their allegations circulated widely on social media and were reported by several news outlets, prompting the police to order a formal autopsy to ascertain the cause of death.
News
Ex-IYC President Demands Toru-Ebe, Oil River States Creation, 33 LGs In Bayelsa

Pioneer president of the Ijaw Youth Council (IYC),
Dr Felix Tuodolo, has called on the Federal Government of Nigeria to create Toru-Ebe and Oil River states.
The former commissioner for Ijaw Affairs in Bayelsa State also urged the government at the centre to create 33 Thirty-three (33) additional Local Government Councils for Bayelsa State.
Tuodolo, who said Bayelsa is one of the largest oil and gas producing states in Nigeria, added that the state accounts for a substantial portion of the country’s oil production, estimated to be around 35-45%.
He noted that despite the state’s significant contribution to Nigeria’s GDP, land and river mass and huge potentials for steady growth and development, the state currently had only eight (8) Local Government Areas, emphasising that Thirty-three LGAs were proposed for creation to make Bayelsa a constitutional state since the 1999 Constitution stipulates that every state must have a minimum of ten LGAs.
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The statement read, “Importantly, the three major tribes in Nigeria all have their own states. The Yorubas have six states, the Hausa- Fulani has 19 northern states and the Igbo has five, and now seven with the resolutions to create a sixth state for them and an extra state in each Geo-political zone, which Ijaws strongly supports. But the Ijaws do not have a single state because the only Ijaw state, namely, Bayelsa, does not even meet the requirement of a state with only eight LGAs. The proposed new thirty-three LGAs for Bayelsa must be created for the Ijaws to accept that they have a state. Nigeria should take seriously the creation of 33 additional LGAs in Bayelsa State. This 33 LGs creation was as old as the creation of Bayelsa State.
“These including other demands made by the INC Global in the envisaged new constitution include: (d) Protection and remediation of the Ijaw environment (6) Federal resource contribution through resource control and payment of tax (1) True federal Constitution (with no unitary colouration) (g) Reintegration of own vide the wholesale prosecution of the Ijaw struggle for self-determination, which had lasted centuries (h) Improve the quality and quantity of representation in the Ijaw region”, he added.
Dr Tuodolo also threw his weight behind the call by the INC Global the creation of Toru Ebe State out of the present Ondo, Edo and Delta States.
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He argued that the oil revenue from the Ijaw areas in the three states accounts for the largest revenue accruing to the National Economy, stressing that despite the receipt of the 13% Derivation Revenue by the 3 states (Delta, Edo and Ondo), the Ijaw areas which are mineral producing had been denied of any meaningful development.
“The proposed state with a population of 2.7million people has natural landscapes with beautiful beaches and lengthy coastline which can be annexed into a blue economy and tourism that will make the State economically viable”, he noted.
The INC Global also demanded the creation of the oil river state.
“We proposed Oil Rivers State that will comprise Ijaws in Rivers and Akwa ibom States. These areas remain the most naturally blessed but environmentally degraded in the entire world with massive oil (exploration) and gas flaring threatening the very survival of the People”, he emphasised.
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