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World Bank Approves $1.08Bn Loan for Nigeria

The World Bank announced on Wednesday that it had approved a total of $1.08 billion in concessional financing for Nigeria to enhance education quality, build household and community resilience, and improve nutrition for underserved groups.

In a statement, the world’s largest multilateral development bank said that the loan is intended to help strengthen its extensive reach and impact in Nigeria in the face of economic hardships, especially in the wake of the Federal Government’s economic reforms in 2023.
According to the statement, the loan comprises $500 million in additional financing for the Nigeria Community Action for Resilience and Economic Stimulus (NG-CARES) Program, $80 million for Accelerating Nutrition Results in Nigeria (ANRIN 2.0), and $500 million for Hope for Quality Basic Education for All (HOPE-EDU).
Specifically, the statement said that the NG-CARES Program will support the Nigerian government in expanding access to livelihood support, food security services, and grants for poor and vulnerable households and communities.
The financing for ANRIN aims to increase the utilization of quality and cost-effective nutrition services for pregnant women and lactating mothers, adolescent girls, and children under five in select areas.
The new financing for HOPE-EDU will focus on improving foundational learning, access to basic education, and strengthening education systems in participating states.
It further stated that the NG-CARES Program was initially designed to respond to the COVID-19 pandemic and has since evolved into a shock-responsive platform providing multisectoral interventions for the poor and vulnerable.
Implemented at the subnational level across all 36 states and the Federal Capital Territory, the program stimulates the local economy through social transfers, labor-intensive public works, livelihood grants, basic community services, agriculture and food security interventions, and support to micro and small enterprises.
The additional financing will strengthen the program’s extensive reach and positive impact, underscoring the need for continued support in the face of economic hardships, including those from the 2023 fuel subsidy reforms and foreign exchange rate unification.
The statement noted that ANRiN 2.0, which aligns with Nigeria’s National Development Plan (2021-2025), the Multisectoral Plan of Action for Food and Nutrition (2021-2025), and the Nutrition-774 initiative, offers an evidence-based, multisectoral approach to combating malnutrition and food insecurity, focusing on maternal and child health, integrated nutrition services, and household food security.
It added that the program will increase the utilization of preventive and curative nutrition services, improve maternal and young child feeding practices and dietary diversity, increase access to micronutrient-rich foods, and provide essential nutritional support to vulnerable populations, mitigating the immediate risks of malnutrition and food insecurity.
The initial ANRIN program reached over 13 million children under five with nutrition services between 2018 and 2024.
For HOPE-EDU, which is part of a series of three interrelated operations alongside HOPE-Governance and HOPE-Primary Health Care, the program aligns with Nigeria’s Universal Basic Education program objectives and strategies.
HOPE-EDU will support structured pedagogy approaches to foundational literacy and numeracy, create learning opportunities where school overcrowding impedes participation, and adopt decentralized allocation and management of Universal Basic Education Intervention Funds, school management, and system information.
The program is expected to directly benefit 29 million children enrolled in public primary schools, 500,000 public primary teachers, and more than 65,000 public primary schools and their School-Based Management Committees.
The program will also receive co-financing in the amount of $52.18 million from the Global Partnership for Education Fund.
The statement quoted Ndiamé Diop, country director for Nigeria, The World Bank, as saying: “Investing in human capital is critical for Nigeria as it offers the best opportunity to unlock the enormous potential of the country.
“These new sets of programs will help Nigeria accelerate education quality and support vulnerable citizens.
“The HOPE-EDU program will enable better education outcomes by implementing bold reforms and making the right investments to equip the fast-growing young population with foundational skills and knowledge necessary for rapid and inclusive economic growth.
“Nutrition interventions from ANRIN will enhance household access to micronutrient-rich foods and nutrition services at the primary healthcare level, improve dietary diversity, and provide essential nutritional support to vulnerable populations, mitigating the immediate risks of malnutrition and food insecurity.
“The NG-CARES additional financing will support the Nigerian government in transitioning from responding to and recovering from the COVID-19 crisis to building household and community resilience.”
News
SERAP Sues INEC Over Alleged ₦55.9Bn Election Funds Diversion

Socio-Economic Rights and Accountability Project (SERAP) has dragged the Independent National Electoral Commission (INEC) to court over the alleged failure to account for ₦55.9 billion reportedly meant for the procurement of election materials for the 2019 general elections.

The grave allegations are documented in the latest annual report published by the Auditor-General on 9 September 2025.
In the suit number FHC/ABJ/CS/38/2026 filed last Friday at the Federal High Court in Abuja, SERAP is seeking: “an order of mandamus to direct and compel INEC to account for the missing or diverted N55.9 billion meant to buy smart card readers, ballot papers, and other election materials for the 2019 general elections.”
SERAP is also seeking: “an order of mandamus to direct and compel INEC to disclose the names of all contractors paid the N55.9 billion for the procurement of smart card readers, ballot papers, result sheets, and other election materials for the 2019 general elections, including the names of their directors and shareholders.”
In the suit, SERAP is arguing that: “INEC must operate without corruption if the commission is to ensure free and fair elections in the country and uphold Nigerians’ right to participation.”
SERAP is also arguing that, “INEC cannot ensure impartial administration of future elections if these allegations are not satisfactorily addressed, perpetrators including the contractors involved are not prosecuted and the proceeds of corruption are not fully recovered.”
According to SERAP, “INEC cannot properly carry out its constitutional and statutory responsibilities to conduct free and fair elections in the country if it continues to fail to uphold the basic principles of transparency, accountability and the rule of law.”
SERAP is also arguing that, “These allegations also constitute abuse of public office and show the urgent need by INEC to commit to transparency, accountability, clean governance and the rule of law.”
SERAP also said, “Allegations of corruption in the supply of smart card readers, ballot papers, result sheets and other election materials directly undermine Nigerians’ right to participate in elections that are free, fair, transparent, and credible.”
The lawsuit filed on behalf of SERAP by its lawyers, Kolawole Oluwadare, Kehinde Oyewumi, and Andrew Nwankwo, read in part: “These grim allegations by the Auditor-General suggest a grave violation of the public trust, the Nigerian Constitution 1999 [as amended] and international anticorruption standards.”
“According to the recently published 2022 audited report by the Auditor General of the Federation (AGF), the Independent National Electoral Commission (INEC) ‘irregularly paid’ over N5.3 billion [N5,312,238,499.39] ‘to a contractor for the supply of Smart Card Readers for the 2019 general elections’.
“The contract was awarded without prior approval from the Bureau of Public Procurement (BPP) and the Federal Executive Council. The payment was also ‘made without any document. There was no evidence of supplies to the commission.’”
News
FG Inaugurates N40Bn CCTV Control Centre for Third Mainland Bridge

Federal government has inaugurated a ₦40 billion closed-circuit television (CCTV) control centre for the Third Mainland Bridge in Lagos.

Speaking at the inauguration on Sunday, David Umahi, minister of Works, said the project followed extensive rehabilitation works carried out on the bridge after the current administration took office in 2023.
“When we came on board in 2023, we met a very terrible Third Mainland Bridge,” Umahi said, adding that the structure, along with Carter and Iddo bridges, required comprehensive re-evaluation and repairs both above and below water level.
He said President Bola Tinubu approved the total rehabilitation of the bridge, including replacement of expansion joints, noting that the completed work had improved driving conditions and extended the bridge’s lifespan.
Umahi said the CCTV system, first announced in 2025, was designed to curb dangerous driving, prevent suicide attempts and strengthen security.
He added that security personnel would monitor live footage from the control centre and enforce speed limits on the bridge.
The minister commended the China Civil Engineering Construction Corporation (CCECC), which executed the project, for what he described as high-quality delivery. He said the contract also included a surveillance boat and two Hilux vans, which would be handed over to the police to support monitoring and rapid response.
“The idea is that we can see everything that is happening on the bridge,” Umahi said, expressing concern over excessive speeding and urging motorists to comply with traffic regulations.
Earlier, Olufemi Dare, federal controller of works in Lagos, said the facility was the first of its kind on any bridge in Nigeria.
He said the system allows real-time monitoring of activities on the bridge and surrounding waters.
Dare said the project includes 240 solar panels, 10 inverters, a 300 KVA transformer, a standby generator, multiple monitoring screens and full air-conditioning for the control centre.
He added that the contract also covers 1,268 solar-powered street lights and a borehole facility.
According to Dare, the project was awarded at a cost of ₦40.17 billion, with about ₦36 billion paid so far to the contractor. He said the current inauguration marked the first phase, with additional commissioning planned once work on the bridge’s extension is completed.
He thanked the president for approving the project and praised Umahi for ensuring due process during its execution.
News
AI Founders and Developers to Converge in Lagos for AI in Action 2026 conference

As Africa stands at the threshold of a digital revolution, Carbon AI has officially announced the AI in Action 2026 conference, scheduled for January 22, 2026, at the Lagos Oriental Hotel.

In a statement in Lagos, Debola Ibiyode, Convener of AI in Action 2026 and CEO of Carbon AI, disclosed that the AI in Action 2026 conference aims to move beyond the typical industry hype to focus on practical, homegrown innovation under the theme: “Driving Productivity, Innovation, and Sustainability—Building the Future in AI Together.”
“AI in Action 2026 is designed as a high-impact platform where deep-tech innovation meets real-world application. The conference will specifically explore how Large Language Models (LLMs), Agentic AI Frameworks, and Generative AI can be harnessed to power Africa’s transformation,” she noted in the statement.
Debola also emphasizes that the time for mere discussion has passed, stressing that AI in Action 2026 is for people who want to do more than just talk about AI; it’s for those ready to build, apply, and lead.
“We aren’t chasing hype or funding; we are chasing real impact. Our mission is to empower budding founders to turn ideas into deployable solutions while championing responsible AI adoption that creates measurable social and economic change across the continent,” she added.
The statement explains that the conference features a curated experience designed to foster genuine collaboration. It includes keynote speeches and panels that offer deep dives into Generative AI, Agentic Frameworks, and their intersection with global sustainability.
Attendees can participate in practical workshops with hands-on sessions focused on building, deploying, and scaling AI tools. The event also features a startup and product showcase that highlights cutting-edge, African-built AI solutions.
Additionally, dedicated mentorship and networking sessions will connect early-stage founders with seasoned practitioners and industry leaders.
The event is a call to action for a diverse cross-section of the ecosystem, including Software and AI Engineers, Data Scientists, Business Leaders, Educators, Policymakers, Students, and ICT Infrastructure companies, enabling AI deployment, including datacenter providers. By bringing these groups together, the conference seeks to ensure the AI revolution is inclusive, ethical, and sustainable.
AI in Action 2026 Now offers tiered sponsorship packages for organizations looking to position themselves at the forefront of Africa’s technological future. Sponsors will gain direct access to a unique demographic of decision-makers and the next generation of AI talent.
“Africa’s digital revolution must be homegrown. Whether you’re building solutions, shaping policy, or mentoring young innovators, this is your platform. Together, we’re not just discussing the future, we’re building it,” she concluded.
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