The Federal Government has initiated discussions with the World Bank for a fresh $300 million loan to enhance Nigeria’s health security system.
As reported by Politics Nigeria, according to World Bank documents, the Nigeria Centre for Disease Control (NCDC) will oversee the project, while the Federal Ministry of Finance will act as the borrower.
The loan request is still in the early stages, with a disclosure date set for February 6, 2025. If approved by the World Bank Board on July 30, 2025, implementation will begin in the 2026 fiscal year.
The Nigeria Health Security Programme (HeSP) aims to improve the country’s public health infrastructure by expanding molecular laboratory capacity, upgrading primary healthcare centers, setting up emergency operation centers, and deploying mobile laboratories.
Additionally, the project will involve constructing warehouses for medical supplies, installing water, sanitation, and hygiene facilities, and integrating solar energy systems to power health infrastructure.
This initiative is part of efforts to strengthen Nigeria’s healthcare system, drawing from past experiences with disease outbreaks such as COVID-19.
Meanwhile, Nigeria continues to depend on external financing, having secured $6.95 billion in World Bank loans under President Bola Tinubu’s administration over the past 18 months.
According to the Debt Management Office, Nigeria’s debt to the World Bank stands at $17.32 billion, with the International Development Association (IDA) accounting for $16.84 billion.
In the first nine months of 2024, the country spent $3.58 billion servicing foreign debt, a 39.77% increase from the $2.56 billion recorded in the same period of 2023.
