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FG Seeks Fresh $1.75Bn World Bank Loan

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The World Bank is reportedly set to approve loans totalling $1.75bn before the end of the year to the Federal Government for key development projects in Nigeria.

FG Seeks Fresh $1.75Bn World Bank Loan

This was coming despite an earlier claim by President Bola Tinubu on Tuesday in Abuja that Nigeria had met its revenue target for 2025 ahead of schedule and would no longer rely on borrowing to fund its budget.

According to official data obtained from the World Bank’s official website, the loans will finance several key initiatives, including projects in agriculture, health, and digital infrastructure.

The Punch reported that one of the major projects set to benefit from this financial backing is the Nigeria Sustainable Agricultural Value-Chains for Growth project, which will receive $500m.

This initiative is aimed at improving agricultural productivity and integrating value chains to support rural development and economic diversification.

The project is currently in the Concept Review phase, with approval expected on December 11, 2025.

Another project, the Building Resilient Digital Infrastructure for Growth, which has a commitment of $500m, aims to enhance Nigeria’s digital infrastructure and foster economic growth, particularly in the technology sector.

The project is currently in the Begin Negotiation phase, with approval scheduled for October 31, 2025.

Similarly, the Health Security Programme in Western and Central Africa, Nigeria – Phase II, will receive $250m to strengthen Nigeria’s health systems and improve the country’s preparedness for health emergencies.

This project is also in the Begin Negotiation phase, with approval expected by September 30, 2025.

Lastly, the Fostering Inclusive Finance for MSMEs in Nigeria project, which aims to improve access to finance for small and medium-sized enterprises, will be allocated $500m. This project is in the Concept Review phase, with approval set for December 18, 2025.

Collectively, these projects comprise the $1.75bn in loans expected to be approved by the World Bank before the end of the year.

The World Bank had approved a total of $8.40bn in fresh loans to Nigeria over the past two years, according to data obtained from the bank’s official website.

The approvals, covering the period from June 2023 to August 2025, spanned 15 projects in the energy, education, healthcare, rural infrastructure, and governance sectors.

The amount comprises $1.95bn from the International Bank for Reconstruction and Development and $6.50bn from the International Development Association.


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Ebere Melum-Nwogbo is a trained and practicing journalist. She is passionate about ICT and business journalism. She has over a decade experience spanning money and capital market as well as information technology

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NigComSat-1R, Nigeria’s Only Satellite to Expire this Year

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NigComSat-1R, a Nigerian geostationary communications satellite will outlive its usefulness this year, meaning that the satellite will expire anytime now.

NigComSat-1R, Nigeria’s Only Satellite to Expire this Year

NigComSat-1R was launched by China Great Wall Industry Corporation (CGWIC) for Nigeria on December 19, 2011, as a replacement for the failed NigComSat-1.

NigComSat-1 which was put in the orbit in May 2007, was de-orbited in November 2008 following the development of power fault.

It was replaced with NigComSat-1R by the same company and has a lifespan of 15 years.

Positioned at 42.5°E, it provides C, Ku, Ka, and L-band services across Africa, Europe, and parts of Asia for broadcasting and internet.

Should the satellite fail, support for television broadcasting, internet connectivity, and secure communications for government and private sectors, may be affected.

The satellite is currently been controlled from China since 2019 following technical issues with the Abuja control station.

NigComSat-1R is currently the only active communications satellite managed by NIGCOMSAT Limited, though it operates alongside other Nigerian observation satellites.

 

 


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Banks, Offices to Close for Thursday and Friday for Eid-el-Fitr

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Federal government has declared Thursday, March 19, and Friday, March 20, as public holidays to mark this year’s Eid-ul-Fitr celebration.

Banks, Offices to Close for Thursday and Friday for Eid-el-Fitr

Consequently, banks, schools and offices nationwide will be shut for the two days.

The declaration was made by Olubunmi Tunji-Ojo, minister of Interior, on behalf of the government, according to a statement issued on Tuesday, by Magdalene Ajani, permanent secretary of the ministry.

Eid-el-Fitr, meaning ‘festival of breaking the fast,’ is one of the most important feasts in Islam.

The festival marks the end of Ramadan, a sacred month of fasting, prayer, and spiritual reflection observed by Muslims worldwide.

During Ramadan, Muslims fast from dawn to sunset, abstaining from food, drink, and other physical needs as an act of devotion to Allah.

Eid-el-Fitr is a time of joy and gratitude, beginning with a special congregational prayer at mosques and open prayer grounds.

It is also marked by feasting, gift-giving, and charitable acts, particularly the giving of Zakat al-Fitr, a mandatory charity given to the less privileged before the Eid prayer.

Congratulating Muslim faithful on the successful completion of Ramadan, Tunji-Ojo urged them to sustain the virtues of love, generosity, peace, tolerance, and sacrifice imbibed during the period.

He also called on Nigerians to use the festive season to pray for the peace, unity, and continued development of the country.

The minister further encouraged citizens to celebrate responsibly and extend acts of kindness to the less privileged, in line with the spirit of the season.

He reiterated the Federal Government’s commitment to promoting national unity and peaceful coexistence among all Nigerians.


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New Horizons Nigeria Expands Digital Access with New Retail Centre in Akute

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Residents of Akute and surrounding communities now have direct access to world-class technology training following the launch of a new retail center by New Horizons Nigeria.

New Horizons Nigeria Expands Digital Access with New Retail Centre in Akute

Mr. Tim Akano

The newly commissioned center, strategically located in Akute, is expected to serve learners and professionals across Alagbado, Ajuwon, Matogun, Lambe, Ojodu-Berger, Isheri, Giwa, Iju-Ishaga, Ishasi, and Oke-Aro.

This initiative has brought internationally recognized ICT training closer to thousands of young people and working adults. For years, distance and accessibility have limited many aspiring tech professionals from enrolling in structured, global-standard programs. With this expansion, residents no longer need to travel long distances to acquire in-demand digital skills.

New Horizons Nigeria, widely recognized as Africa’s largest ICT training organization, continues to strengthen its footprint in Nigeria’s digital education sector.

In 2025, the institution received the prestigious Best ICT Training Company award from CompTIA in South Africa. This further reinforce its leadership position within the continent’s technology training ecosystem.

As a franchise of New Horizons International, which operates in over 90 countries across six continents, the organization has consistently aligned with global best practices while addressing local capacity gaps.

The organization currently provides ICT training services to more than 30 universities and nearly 200 high schools nationwide.

The center would be used for the training of high-end technical courses like Cyber Security, Web Development, Artificial intelligence, Full Stack, Graphics and CompTIA courses like Hardware, Network and Security Plus.

New Horizons trains over 100,000 students yearly across 27 universities and 150 secondary schools, as well as corporate organizations, government agencies and retail offices.

Students trained by New Horizons Nigeria are always well-sought after in the labour market after graduation and the certificate they obtain are recognized in all the 90 countries where New Horizons have offices.

Speaking on the broader vision behind the expansion, the Founder and Chief Executive Officer, Mr. Tim Akano, emphasized that the future of the nation’s economy depends largely on accessible and practical tech education.

He noted that in today’s digital economy, virtually 100 percent of jobs require some level of IT skill, regardless of one’s field of study. From finance and healthcare to agriculture, media, engineering and public administration, technology now drives productivity and competitiveness.

He further stated that IT has evolved from being a specialized field to becoming a foundational requirement for career growth and wealth creation. Acquiring digital skills, he stressed, remains one of the most strategic pathways to higher earning potential and long-term financial stability.

Furthermore, he stated that young Nigerians considering relocation abroad need to prioritize acquiring IT skills before traveling.

He asserted that obtaining internationally relevant technology training outside Nigeria is significantly more expensive than enrolling locally.

By gaining these skills locally, individuals position themselves for better opportunities overseas. Rather than struggling to survive in low-paying or unrelated jobs, they can compete as skilled professionals in global labour markets.

Also, holding a globally recognized certifications from New Horizons Nigeria gives candidates a competitive edge, and enhances their credibility and employability abroad.

As of January 2026, New Horizons Nigeria and its CEO have collectively received over 320 national, continental, and international awards, making them one of the most decorated institutions and individuals in Nigeria’s technology, entrepreneurship, and youth empowerment space.

The launch of the Akute retail center signals more than physical expansion; it represents a deliberate effort to democratize access to technology education at the grassroots level. With increasing demand for skills in cybersecurity, cloud computing, artificial intelligence, software development, and digital business solutions, the new center is positioned to become a hub for digital transformation within Ogun State and its border communities.


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