Nigeria has accessed an additional $208.29 million from the World Bank under its $800 million National Social Safety Net Programme-Scale Up, bringing total disbursements under the facility to about $744.61 million.
The latest drawdown, made through three transactions in the first half of 2026, represents about 93.1 per cent of the loan approved by the World Bank in December 2021 to strengthen Nigeria’s social protection system and expand cash transfers to poor and vulnerable households.
Records from the World Bank showed that Nigeria received $8.29 million on April 8, $150 million on April 29 and another $50 million on June 22.
Although an $83.65 million reversal was recorded on February 1, the amount was re-disbursed on the same day, leaving no net impact on the total amount accessed under the facility.
The latest figures mean that only about $55.39 million of the $800 million loan remains undrawn.
The World Bank financing, provided under IDA Credit No. IDA-70190, has become an important source of funding for Nigeria’s social intervention programmes, particularly following the removal of the petrol subsidy in May 2023.
The Federal Government had relied on the programme to provide financial support to vulnerable Nigerians affected by the sharp increase in living costs that followed the subsidy removal and other economic reforms.
The programme was initially designed to provide conditional cash transfers to the poorest and most vulnerable citizens and help households withstand economic shocks.
Its implementation, however, was delayed for almost 17 months amid administrative bottlenecks, political transitions and controversies surrounding the management of the Federal Government’s social investment programmes.
The original cash transfer arrangement provided N5,000 monthly to selected beneficiaries. Under the Bola Tinubu administration, the payment was revised to N25,000 monthly for three months, with the government targeting about 15 million households.
The World Bank facility was originally approved on December 16, 2021, with an initial closing date of June 30, 2024. The implementation period was subsequently extended to June 30, 2027.
The programme also faced scrutiny following allegations of financial impropriety within the Ministry of Humanitarian Affairs and Poverty Alleviation.
In December 2023, the Economic and Financial Crimes Commission alleged that about N37.1 billion had been misappropriated under the former minister, Sadiya Umar-Farouq. The EFCC said the funds were allegedly laundered through contractors and other third parties.
Umar-Farouq was subsequently invited and detained by the anti-graft agency in January 2024.
Her successor, Betta Edu, was also suspended by President Tinubu after she was reported to have authorised the transfer of N585 million to a private account for the payment of vulnerable groups. The Accountant-General of the Federation had rejected the transaction on the grounds that it contravened public financial regulations.
Another senior official, Halima Shehu, who was then the National Coordinator of the National Social Investment Programme Authority, was arrested over alleged movement of about N44 billion from NSIPA accounts to suspicious destinations.
The developments prompted the President to establish a special investigative panel headed by then Finance Minister, Wale Edun, to examine the social investment architecture and recommend measures to improve transparency and accountability.
The government subsequently strengthened beneficiary verification by working with the Central Bank of Nigeria and the National Identity Management Commission to make Bank Verification Number and National Identification Number registration mandatory for beneficiaries.
Meanwhile, the Minister of Humanitarian Affairs and Poverty Reduction, Dr Bernard Doro, said in March that about 9.2 million Nigerians had benefited from the Household Prosperity and Empowerment Cash Transfer Programme, with approximately N688 billion disbursed over two years.
The continued drawdown from the World Bank facility highlights the Federal Government’s reliance on external financing to sustain social protection interventions as it seeks to cushion the effects of economic reforms on vulnerable households.
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