The World Bank has announced the approval of three major financing operations worth a total of $1.08 billion to support key sectors in Nigeria, including education, nutrition, and economic resilience. This move is aimed at addressing some of the country’s most pressing challenges, with a focus on improving education quality, enhancing community resilience, and tackling nutritional deficiencies among underserved groups.
A statement from the World Bank’s official website on Wednesday confirmed that these concessional loans would go a long way in improving the lives of Nigerians, particularly those from vulnerable communities. The approved operations consist of three main components: $500 million for the Community Action for Resilience and Economic Stimulus Programme (NG-CARES), $80 million for the Accelerating Nutrition Results in Nigeria (ANRIN 2.0), and another $500 million for the Hope for Quality Basic Education for All (HOPE-EDU) initiative.
The NG-CARES Programme, which was initially launched to address the economic fallout from the COVID-19 pandemic, has already provided much-needed support to millions of Nigerians. The program focuses on expanding access to livelihood support, food security services, and grants for poor and vulnerable households. To date, more than 15 million beneficiaries have benefited from this programme. The new financing will allow the programme to broaden its scope, especially as Nigeria faces ongoing economic challenges, including the 2023 fuel subsidy removal and the unification of foreign exchange rates.
The second initiative, ANRIN 2.0, is aimed at improving nutrition for some of Nigeria’s most vulnerable groups, including pregnant women, lactating mothers, adolescent girls, and children under five. The programme will focus on strengthening nutrition services and improving access to micronutrient-rich foods, as well as enhancing maternal and child health across various parts of the country. ANRIN 2.0 builds upon the success of its predecessor, which reached over 13 million children under five between 2018 and 2024.
Lastly, the HOPE-EDU initiative is a significant part of the World Bank’s support for the education sector in Nigeria. The programme focuses on improving foundational literacy and numeracy, increasing access to quality basic education, and strengthening the overall education system in participating states. The programme is expected to directly benefit 29 million public primary school pupils, 500,000 teachers, and over 65,000 public primary schools. Furthermore, HOPE-EDU will help address the issues of overcrowding in schools and the decentralized allocation of education funds. The programme will also receive additional funding of $52.18 million from the Global Partnership for Education Fund to support its objectives.
Dr. Ndiamé Diop, the World Bank Country Director for Nigeria, commented on the significance of these programmes, stating, “Investing in human capital is critical for Nigeria as it offers the best opportunity to unlock the enormous potential of Nigeria.” He emphasized that these new financing operations would play a vital role in enhancing education quality and supporting vulnerable communities. He added that the HOPE-EDU initiative, in particular, would help implement bold reforms to improve education outcomes and equip the growing young population with the necessary skills for economic development.
These new initiatives are part of Nigeria’s broader efforts to build a more resilient and inclusive economy, with a strong focus on addressing key social challenges. The World Bank’s approval of this financing marks a significant step toward achieving sustainable development goals and improving the overall well-being of Nigerians, particularly in the education and health sectors.
