The World Bank disclosed that it has approved a total of $1.57 billion to support three projects and this new funding will strengthen human capital in Nigeria through better health for women, children and adolescents and increasing resilience to climate change such as floods and droughts by improving dam safety and irrigation systems.
This financing package, consisting of a $1.5 billion loan and a $70 million grant, is part of a larger initiative aimed at enhancing critical sectors like education, healthcare, and water management, as well as addressing poverty and increasing productivity.
The new financing is divided across three projects: The first is HOPE-GOV which will receive $500 million for addressing governance issues that constrain the delivery of education and health. The goal is to improve transparency and accountability while ensuring that essential services, such as basic education and primary healthcare, are accessible to the most vulnerable populations. Another $570 million is allocated for the Primary Healthcare Provision Strengthening Program (HOPE-PHC),This program centers on reducing maternal and under-five mortality rates in Nigeria’s health infrastructure and The Sustainable Power and Irrigation for Nigeria Project (SPIN) will receive $500 million which aims to protect Nigeria from climate-induced challenges such as floods and drought and also support improving the safety of dams and the management of water resources for hydropower and irrigation in selected areas of Nigeria.
The SPIN Program will further enhance irrigation and drainage services across 40,000 hectares benefiting up to 950,000 people including households, farmers, and livestock breeders. This initiative aims to provide more reliable climate-resilient, and efficient irrigation, water supply ultimately increasing agricultural productivity through improved irrigation water management. Additionally, the SPIN project will enable the government to create a master plan for hydropower and establish a structured public-private partnership for a hydropower initiative.
Dr. Ndiamé Diop, the World Bank Country Director for Nigeria stated that Effective investment in the health and education of Nigerians today is central to increasing their future employment opportunities, productivity, and earnings, while reducing poverty of the most vulnerable. This new financing for human capital and primary health care will help to address the complex difficulties faced by Nigerians especially women and girls around access and quality of services, but also the governance arrangements that also explain these difficulties”. He further added that “The SPIN program is timely and will protect Nigerians from floods and droughts in the areas where it will be implemented, while enabling an increase in hydropower generation. The direct positive impact of this project on people and livelihoods is enormous, The World Bank is pleased to work with the government and other stakeholders to deliver this program”.
The World Bank stated that the HOPE-GOV Program will help Nigeria in addressing financial and human resource management in the basic education and primary healthcare sectors. Additionally, the World Bank noted that the HOPE-PHC project will enhance the quality and use of essential reproductive, maternal, newborn, child, and adolescent health and nutrition services.
