Nigeria has received a significant financial boost from the World Bank, totaling $1.57 billion, to support three key initiatives aimed at enhancing human capital and strengthening resilience against climate change. This new funding comes amidst a challenging backdrop, with the World Bank reporting that 104 million Nigerians are currently living in poverty, exacerbated by recent subsidy and foreign exchange reforms.
The allocated funds will target the improvement of health services for women, children, and adolescents while also enhancing dam safety and irrigation systems to mitigate the impacts of climate-related challenges such as floods and droughts.
This latest financial support includes $500 million designated for addressing governance issues that impede the delivery of education and health services (HOPE-GOV), $570 million for the Primary Healthcare Provision Strengthening Program (HOPE-PHC), and another $500 million for the Sustainable Power and Irrigation for Nigeria Project (SPIN).
The HOPE-GOV and HOPE-PHC programs are designed to improve service delivery in essential education and healthcare sectors, which are critical for advancing Nigeria’s human capital outcomes. The SPIN initiative will focus on enhancing dam safety and water resource management for hydropower and irrigation in targeted regions.
The HOPE-GOV program aims to address key governance challenges in the education and healthcare sectors, improving the efficiency and transparency of funding while optimizing the management of personnel at all government levels.
In line with the Federal Government’s health sector reforms, the Central Bank of Nigeria (CBN) has introduced the Health Sector Renewal Investment Initiative, particularly the HOPE-PHC project, which aims to enhance the quality and accessibility of crucial reproductive and maternal health services. This initiative targets significant reductions in maternal and child mortality rates and is expected to benefit 40 million people, particularly in vulnerable communities.
The project includes a concessional credit of $500 million from the International Development Association (IDA) and an additional $70 million in grants from the Global Financing Facility for Women, Children, and Adolescents (GFF). These funds will address financing shortfalls in primary and community healthcare.
Moreover, the SPIN Program aims to protect Nigerian citizens from the effects of climate change by improving dam operations and developing enhanced irrigation and drainage services across 40,000 hectares, directly benefiting approximately 950,000 individuals, including households and farmers.
Dr. Ndiamé Diop, World Bank Country Director for Nigeria, emphasized the importance of investing in health and education to improve employment opportunities and reduce poverty. He expressed confidence that the new financing would help tackle the challenges faced by Nigerians, particularly women and girls, in accessing quality services.