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FG Seeks Fresh $580m W’Bank Loans

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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.

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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.

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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.

READ ALSO: Abuja Residents Lament As NNPCL Shuts Stations Over Logistics Issues

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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.

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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.

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It will be implemented through primary healthcare facilities and community-based programmes.

READ ALSO: NDLEA Arrests 75-year-old Man, Seizes Illicit Drugs In Major Operation

Also, it will include interventions such as nutrition-smart agriculture to bolster household food security and dietary diversity.

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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.

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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.

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Not less than 10 loan projects have been approved by the World Bank under the current administration.

READ ALSO: Trump Set To Scrap US Education Department – Report

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.

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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.

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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.

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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.

READ ALSO: EFCC Arraigns Travel Agency CEO Over N144m Hajj Fare Fraud

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.

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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.

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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.

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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

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Foundation Offers Free Medical Serves To Edo Community

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As part of its campaign against extractive activities and promotion of healthy living in the Niger Delta region, an environmental think-tank organisation — The Ecological Action Advocacy Foundation (TEAAF) on Monday offered free medical services to the people of Gelegele community in Ovia South West Local Government Area of Edo State.

The free medical services which included eye screening, sugar level and BP tests, general medical examination and counseling, etc, saw over 150 people benefitting from the free medical outreach.

The beneficiaries were also offered the appropriate reading eyeglasses and medications as the outcome of their tests required.

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In her speech, Project Director, TEAAF, Ann Ajirioghene Offi, said though it was not the first time her organisation is taking free medical services to the community, the need to offer the current free medical services to Gelegele people arise during a dialogue with them where they narrated different health challenges to the representatives of the organisation.

A cross section of beneficiaries of the outreach

READ ALSO:200 Gelegele Community Residents Benefit From TEAAF Free Medical Care

Offi, who described Gelegele as a Community of Particular Concern to her organisation, said the health challenges keep increasing by the day as a result of extractive activities, gas flares and negligence.

She said: “We have seen that there are a lot of health challenges in this community, and this is as a result of the location of the community, and the ongoing extractive activities in the community, most especially the gas flares in the heart of the community. The gas flare has resulted in a lot of health challenges in the community, according to our research.

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“We felt it’s very vital for us to bring free medical services here going by the health challenges facing the people.

“The challenges keep increasing by the day as a result of negligence. Negligence in the sense that the health centre in the community is not functional as it ought to be, and from my observation, no medical equipment in the clinic to take care of people.”

Eyeglasses display displayed during the medical outreach for distribution.

READ ALSO:Oil Extractive Activities: Gelegele Community Told To Speak In Unison

One of the beneficiaries, Clement Eyenmi, expressed joy and appreciated TEAAF for the free medical services, saying “our people need an organisation as this to come to their aid.”

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He lamented that despite his age, he’s already having eye challenges as a result of the gas flares in the heart of the community.

“In this our environment, and personally for me, I have an eye challenge as a result of this gas flaring in the heart of our community. But today, I was attended to; I was given a reading glasses.

“The oil company flares the gas but does not bother about the welfare of the people, or show concern about the environment. This is a major problem we have here.

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Medical personnel attending to a beneficiary.

READ ALSO:Patient Accuses Ekiti Teaching Hospital Of Organ Harvesting

What this organisation is doing today is what we expect the government and the oil company to do, but they will never do such,” he added.

Also speaking, another beneficiary, Bobby Ikinbor, also appreciated TEAAF for the free medical services, saying “we do not have a standard hospital here, so, today, as this organisation brings this free medical services, it is a relief to us. We appreciate the organisation.”

He added: “You see, at times when we have an emergency health challenge and we try to rush the person to the city, we have to pray because of the bad condition of the road. At times the emergency patient dies before we get to the city.”

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OPINION: Nigeria Deserves A President Donald Trump

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By Suyi Ayodele

“I spoke with AJ on the phone to personally convey my condolences… He assured me that he is receiving the best care in the hospital.” From wherever he then was, President Bola Ahmed Tinubu relayed that Anthony Joshua, the British-born boxer of Nigerian descent involved in a recent car accident, had told him he was receiving the best medical attention in Nigeria.

Yet, with something as ordinary as a headache, the same president routinely jets out of the country for treatment, sometimes to the United Kingdom, sometimes to France, sometimes to destinations left undisclosed. No one asks Mr. President why he can not stay behind and partake of that same “best care in the hospital” available at home.

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Instead, we busy ourselves with tallying the number of days he spends abroad, and when the arithmetic is done, we move on. Nothing more is demanded; nothing more is explained.

So, if tomorrow a President Donald Trump were to bar Nigerians from travelling to the United States for medical treatment, we would promptly denounce him as a racist. Yet the very next day, we would assemble a cultural troupe to welcome home a medical tourist president, one who left Nigeria quietly, without telling us what ailed him, and returned triumphantly after treatment abroad.

That is our lot; the predicament of a people wedded to decay and decadence. And it is precisely this contradiction, this ritual of self-deception, that makes it easy for some world leaders to dismiss Nigeria as a disgraced country.

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President Trump is a man many love to hate. And justifiably too. The man attracts ‘hatred’ for himself as if his mission on earth is to do what many consider ‘despicable.’

I, however, have a different opinion about the man who rules America at the moment. I see him as more of an American patriot than the brute many people project him to be. I don’t see anything wrong in a president asking non-nationals to go back and fix their own countries. That, to me, is the central message of the Trump Presidency. My understanding of his philosophy on governance is that citizens should hold their leaders accountable, rather than fleeing their countries.

This is one of the reasons I hardly argue about Nigeria and its numerous failing institutions with any Nigerian living outside the shores of the country, especially those who japa less than 20 years ago. My position is simple: if you know that Nigeria is being run by the best of men now, just pack your bags and baggage and come back home. A friend once asked me why I don’t see anything wrong in “the racist called Trump”, and I responded by asking him to come back home and enjoy our nationalist president. If farming is an easy venture, blacksmiths will not sell hoes and cutlasses. Those are the words of our elders.

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MORE FROM THE AUTHOR:OPINION: Don Pedro And Beautiful Benin

Three days into the New Year 2026, President Trump opened the New Year on a very good note for the people of Venezuela. Venezuelans, at home and in the diaspora, woke up that Saturday, January 3, 2026, morning to discover that they had no president. Trump, using the sophisticated American soldiers in the US elite corps, invaded Venezuela in the dead of the night and abducted, if you like, kidnapped President Nicolás Maduro and his wife. Surprisingly, the people rejoiced at the news!

The husband and wife were in bed when the American soldiers came calling. One can picture how startled they were when they saw the strange faces in their inner room. The shock, especially when Maduro had, less than a month ago, boasted that he was safe and secure and dared America to come after him, is better imagined! What if the couple were making out when the intruders arrived?

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Hours later, Trump boasted of the feat as “an extraordinary military operation,” during which “air, land, and sea were used to launch a spectacular assault. And it was an assault like people have not seen since World War Two.” He then described the operation as “…. One of the most stunning, effective and powerful displays of American military might and competence in American history” as the Venezuelan military capacities were “rendered powerless”, and “…. the men and women of our military working with US law enforcement successfully captured Maduro in the dead of night.” Could this be the reason why our elders advise that when one’s mother’s co-wife is older, one must call her mother (Tí ìyàwó ìyá eni bá ju ìyà eni lo, ìyá làá pèé).

A great public speaker, Trump warned that “This extremely successful operation should serve as a warning to anyone who would threaten American sovereignty or endanger American lives.” He listed those to be warned to include Cuba, saying, “I think Cuba is going to be something we’ll end up talking about because Cuba is a failing nation right now, a very badly failing nation. And we want to help the people. It’s very similar in the sense that we want to help the people in Cuba.”

Trump is a consummate power wielder. He did not forget Colombia. It is a known fact worldwide that Colombia and drugs are Siamese twins. If President Maduro of Venezuela could be ‘captured’ because he was accused of importing cocaine to America, the Colombian President, Gustavo Petro, President Trump warned, should “watch his ass”, because “He’s making cocaine and they’re sending it into the United States, so he does have to watch his ass.”

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We must get this right from the start. No law permits what President Trump did in Venezuela. The invasion of the presidential palace and the kidnapping of President Maduro and his wife are bad in all ramifications. America is not the world police. At least, the United Nations (UN), that toothless world bulldog, Charter does not permit such an infraction. The sovereignty of Venezuela was raped by Trump. The sanctity of the human person of President Maduro was violated. Oh, yes, I must add this: the solemnity of the bedroom of Maduro and his wife was desecrated! What if Maduro and his wife had slept naked, as most couples do?

Article 2(4) of the UN Charter prohibits any member state from using force against the territorial integrity (sovereignty) of an independent country. The Charter, in Article 51, only allows the use of force in self-defence, while Articles 24 and 25 permit only the Security Council to use joint or collective force against any independent nation that threatens world peace. So, where did President Trump derive the power to invade another country, pick up the incumbent president, and transport him to America in handcuffs, as he did to President Maduro of Venezuela?

MORE FROM THE AUTHOR:OPINION: My Man Of The Season

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I have read many comments about the Trump Presidency. This recent action in Venezuela added fuel to the inferno of hatred for the American President. If Nigerians in the Diaspora in America were to choose who governs God’s Own Country, Trump would not have smelled the presidency. In fact, he would not have been elected as the mayor of any city. But unfortunately for the entire world, the American people, or, as someone argued, ‘the American skewed system’, elected Trump as president. Everybody, haters or lovers alike, would have to deal with that fact.

From day one, Trump never hid his identity. He never pretended to be a gentleman. He did not tell anyone that he would run America for foreigners. His ‘Make America Great Again’ (MAGA) mantra is self-explicit. America would be for Americans, he promised. And he has lived up to that. That is honesty in its illiterate form! If you ask me, that is the type of president every nation deserves. No pretence, no diplomacy; all that matters is American interests. I wish Nigeria had such a President, the one who thinks, sleeps and dreams of Nigeria. We have been unfortunate with the selfish individuals that we have had as leaders. The present crop of transactional leaders is the very worst in our recent history.

If I were to choose a president for Nigeria, I would not think twice before picking a character like Trump. A man who places the nation’s interest above any other consideration is the man after my heart. This is what is lacking in Africa, and particularly in Nigeria. A nation that has no defined national interest is bound to be in ruins, like most nations of Africa.

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Nigeria has the capacity, in all ramifications, to be great. What we lack is a president who is purposeful, courageous and above all, patriotic. We can imagine that our military became suddenly effective and efficient only after Trump ‘invaded’ Sokoto and cleared out a good number of terrorists. Yet again, nobody is asking what went wrong before the coming of Trump.

I have read so much about the sovereignty of Venezuela. I have no problem with that. But the one question I keep asking the proponents of national sovereignty is: at what time does the respect for a nation’s sovereignty stop? If, for instance, the sovereignty of Nation A threatens the peace of Nation B, what should Nation B do? Should it act in the interest of its own peace or fold its hands while the rudderless nation A acts anyhow?

If President Maduro was exporting drugs to America as Trump alleged, what should be the response of President Trump? I also find it curious that many who talked about the sanctity of the American judiciary in the case involving President Tinubu and the Chicago University certificate are the same set of people saying Maduro would not get justice in America! What a people!

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After the ‘capture’ of President Maduro, the American President said that the US would “run” Venezuela. Many said that Trump was only interested in Venezuelan crude oil. Trump himself did not deny that. His press conference after Maduro had been taken into custody was clear enough. America had a huge investment profile in the oil sector of Venezuela. One of the responsibilities of President Trump, and this is applicable to all presidents, is the protection of the American economy at home and abroad. If the US investments are threatened in Venezuela because of the activities of Maduro, would Trump not be failing in his responsibility if he did not act in the name of sovereignty?

MORE FROM THE AUTHOR:OPINION: Nigerian Soldiers In Benin Republic

Nnamdi Kingsley Akanni, a professor of International Law and Diplomacy, Rivers State University, in a 2019 paper on “The Concept of Sovereignty in International Law and Relations,” suggests that the concept of sovereignty may be a ruse after all. According to him, “The paper found that what third world countries enjoy is not sovereignty but ‘sovereignty on dictated terms’ of the so-called developed powers.”

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The erudite scholar states further that at the end of the research exercise, “The paper also found that smaller States are not accorded protection from developed countries and that until that is done, the concept of sovereignty will continue to be elusive to smaller nations.” He then recommends “…that the UN should take proactive steps to give greater recognition and voice to developing countries as well as offering them the platform to assert their sovereignty in line with international law.”

What the scholar is saying here is that the concept of ‘sovereignty’ exists only when the developed countries are involved. When there is a conflict of interest between the world superpowers and any of the developing or ‘disgraced’ countries of the world, the principle of “Just War” applies. This is why Trump is going to get away with the Saturday invasion of Venezuela and the impending similar exercises in Cuba and Colombia, as the American President hinted.

If the UN wakes up today and gets its mojo back to interrogate Trump on Venezuela, the US can simply hide under the cover of the principle of ‘Just war’ as the invasion of Venezuela and the ‘capture’ of its president satisfied the jus ad bellum requirements of the ‘just cause’, just intention’; ‘just peace’; reasonable chance of success’; and ‘expected benefits outweighing anticipated cost.’. We don’t need a seer to predict that many drug-friendly leaders across the globe will think twice before making America their ‘depots.’ Trump took the American oath of office to protect American interests. This is why there has been no serious condemnation of the invasion in the US today.

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The invasion of Venezuela is a lesson for third-world countries. The argument that Trump took that decision because of the last Venezuelan election and economic interest is noble in my opinion. That is what he was elected to do: protect America and its interests world over.

In Africa, in general, and in Nigeria in particular, let our leaders learn to develop our lands. Let those saddled with the responsibilities of paddling our canoes do so with utmost patriotism. And more importantly, let those who want to lord it over us do so through free and fair elections. Otherwise, we will all clap and celebrate should Trump decide to ‘capture’ and ship all undesirable elements with questionable character to America for trial. Venezuelans set the precedent on Saturday when they trooped to the streets in jubilation at the news of the removal of Maduro!1

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Oyo Traditional Ruler Suspended Over Alleged Illegal Mining

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The Oyo State Government has suspended the Sobaloju of Ofiki, Chief Jacob Sobaloju, following allegations linking him to illegal mining activities and breaches of Executive Order 001/2023, which governs mining operations within the state.

The state government said the action was taken to protect the public interest and preserve government-gazetted assets.

In a suspension letter issued by the Ministry of Local Government and Chieftaincy Matters and signed by the Director of Chieftaincy Matters, Mr Olajire A.M., the traditional ruler was accused of contravening the executive order and forest reserve regulations by allegedly issuing consent letters to mining firms without lawful authorisation.

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READ ALSO:Fire Ravages Residential Building In Oyo

The letter further alleged that Chief Sobaloju permitted mining activities within government-reserved forest areas and facilitated unauthorised mining operations, actions said to be in violation of extant laws and regulations.

According to the ministry, the monarch was suspended from the palace of the Onitọ of Ito with effect from Monday, January 5, 2026, pending the outcome of investigations.

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The suspension was described as a precautionary step to ensure an unhindered and credible investigation process.

READ ALSO:Police Arrest Islamic Cleric With Human Flesh In Oyo

The correspondence, titled “Re: Complaint against Chief Sobaloju of Ofiki for violation of State Executive Order, Forest Reserve Regulations and encouraging trespassing of government gazetted assets,” stated that the allegations bordered on violations of Executive Order 001/2023 and unlawful encroachment on state-owned assets.

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Chief Sobaloju was also directed to immediately cease all mining-related activities, including the issuance of consent letters, avoid interference with the investigation, and make himself available to investigators whenever required.

The Oyo State Government reaffirmed its zero-tolerance stance on illegal mining and related infractions, warning that any individual found culpable would be sanctioned in line with the law.

 

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