Tinubu Secures $11.4bn World Bank Loans In Three Years, Nears Buhari’s Eight-Year Total

President Bola Tinubu’s administration has secured approximately $11.4 billion in World Bank loan approvals within its first three years in office, bringing it close to the total amount approved during former President Muhammadu Buhari’s eight-year administration.

Data from the World Bank’s project database showed that Nigeria received approvals worth about $11.40 billion between June 2023 and June 2026 under Tinubu, compared to the $14.59 billion approved during Buhari’s tenure from May 2015 to May 2023.

The figures indicate that Tinubu’s administration has already secured nearly 78 per cent of the World Bank financing approved throughout Buhari’s eight years in office.

The data also showed that the current administration has surpassed the $5.56 billion in World Bank loan approvals recorded during Buhari’s first four years by more than 105 per cent.

Of the $11.4 billion in World Bank loans approved under Tinubu’s administration, only $2.32 billion had been disbursed as of the latest update on the World Bank’s website, leaving about $8.41 billion yet to be released. This represents a disbursement rate of approximately 20.3 per cent.

In contrast, projects approved during Buhari’s administration have recorded significantly higher implementation levels. Of the $14.59 billion approved under his presidency, $11.94 billion had been disbursed, while $1.53 billion remained undisbursed.

The figures indicate a disbursement rate of about 81.8 per cent for Buhari’s projects, reflecting the fact that many have either been completed, entered the repayment phase or are nearing completion.

The World Bank financing secured under Tinubu is primarily intended to fund projects across key sectors, including economic reforms, education, healthcare, agriculture, energy, digital infrastructure, financial inclusion and social protection.