Updated information from the World Bank website indicates that the project has reached the decision meeting stage, the final internal stage before approval by the World Bank Group’s board. “Please note that projects or operations under preparation, as indicated on the World Bank website, can be subject to changes,” the source said. “Until the World Bank Board approves them, elements such as design, components, and financing envelopes may be revised or adjusted. This represents 41.3 per cent of the country’s external debt, underscoring the bank’s dominant role in financing Nigeria’s development initiatives. When grants are added, total World Bank support rises to about $9.77bn within the three-year window.

Source: Punch February 09, 2026 18:53 UTC