The World Bank has approved an additional $65 million loan to support Nigeria’s Sustainable Procurement, Environmental, and Social Standards Enhancement (SPESSE) project, raising the total funding for the initiative to $145 million.
According to the World Bank’s official records, the latest financing was approved on June 24, 2025, and the project status has been updated to “active,” indicating it has reached the “bank approved” stage.
Originally launched in 2021 with an initial $80 million loan approved in February 2020, the SPESSE project is aimed at developing institutional capacity for managing procurement, environmental, and social standards across both public and private sectors in Nigeria.
“The project development objective is to develop sustainable capacity in managing procurement, environment, and social standards in the public and private sectors,” the World Bank stated.
The newly approved funds will help scale up key components of the project, particularly the implementation of the Electronic Government Procurement (e-GP) system. The e-GP platform is designed to improve transparency, shorten procurement timelines, and enhance efficiency in the use of public funds.
In a project document, the World Bank emphasized that the additional financing (AF) will retain the original objectives of the parent project without any changes.
Further review of the World Bank’s financing pipeline indicates that Nigeria could receive up to $1.61 billion in additional loans in the coming months.
In July 2025, the Bank is expected to approve a $300 million loan for the Solutions for the Internally Displaced and Host Communities Project. The initiative aims to improve access to basic services and economic opportunities for Internally Displaced Persons (IDPs) and host communities in northern Nigeria. This loan is currently in the negotiation phase, with final approval expected by July 31.
In September 2025, three more loans are projected for approval:
- CBN Technical Assistance Facility – $10.5 million
- Health Security Program in Western and Central Africa (Phase IV) – $300 million
- Building Resilient Digital Infrastructure for Growth (BRIDGE) – $500 million
Additionally, a $500 million loan under the Nigeria Sustainable Agricultural Value-Chains for Growth project is scheduled for approval in December 2025. This project aims to foster sustainable development and job creation across select agricultural value chains nationwide.
With these commitments, Nigeria remains one of the World Bank’s most significant partners in Africa, leveraging multilateral support to drive reforms, build institutional resilience, and promote inclusive economic growth.
