Floods: World Bank approves $500m Nigeria loan

The World Bank has granted Nigeria an additional $500 million in financing to address flooding, restore degraded agricultural lands, and reduce conflicts between farmers, herders, and rural communities in the northern part of the country. This funding, part of the Agro-Climatic Resilience in Semi-Arid Landscapes Project, aims to strengthen climate resilience, enhance water management, and boost agricultural productivity across 19 northern states and the Federal Capital Territory.

By 2031, the project is expected to restore 1.4 million hectares of land, benefiting roughly 6.6 million individuals. The extra financing will support watershed rehabilitation, erosion control, and better natural resource management in areas susceptible to climate-related disasters. The World Bank's Country Director for Nigeria, Mathew Verghis, emphasized that this funding will enable the government to expand successful interventions in vulnerable communities, improve livelihoods, and enhance food and water security.