Floods: World Bank approves $500m Nigeria loan

The World Bank has approved $500 million in financing for Nigeria to address flooding, restore degraded land, and reduce conflicts among farmers, herders, and rural communities in the northern region. The Agro-Climatic Resilience in Semi-Arid Landscapes Project aims to strengthen climate resilience, improve water management, and enhance 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, benefitting approximately 6.6 million people. This additional financing builds upon the achievements of the existing ACReSAL project, which has already restored 550,000 hectares and reached over 4.4 million beneficiaries.