The World Bank has approved $500 million in additional financing for Nigeria to combat severe flooding, restore degraded agricultural landscapes, and mitigate resource-driven conflicts between farmers and herders across northern Nigeria.
Announced in a statement released on the lender's official website, the facility scales up the Agro-Climatic Resilience in Semi-Arid Landscapes (ACReSAL) project across 19 northern states and the Federal Capital Territory.
Scheduled to run through 2031, the financing aims to rehabilitate watersheds, strengthen erosion control, restore 1.4 million hectares of degraded land, and improve rural livelihoods for approximately 6.6 million beneficiaries.
World Bank Country Director for Nigeria, Mathew Verghis, and Task Team Leader Joy Iganya Agene noted that the funding builds on the existing ACReSAL programme—which has already reclaimed 550,000 hectares—to bolster food and water security.
The new facility adds to Nigeria's expanding multilateral debt portfolio with the World Bank, which stood at $20.73 billion as of June 30, 2026, accounting for over 38 percent of the nation's total external debt stock.
"This additional financing will help scale up proven solutions, restore more degraded land, increase agricultural productivity, and strengthen institutions that can sustain these gains over the long term." — Mathew Verghis, World Bank Country Director for Nigeria
#WorldBank #NigeriaEconomy #ACReSAL #FloodControl #ClimateResilience #NorthernNigeria #Agriculture
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