News
Nigeria to repay $500m health loan in 25 years – World Bank
The Federal Government will begin repaying a $500m concessional loan secured from the International Development Association from 2029 to 2054.
This is according to a financing agreement signed between Nigeria and the World Bank’s lending arm, which was obtained by Sunday PUNCH.
The loan, which falls under the Nigeria Primary Healthcare Provision Strengthening (also referred to as HOPE-PHC) Programme, is aimed at improving the country’s primary healthcare services, particularly maternal and child health, emergency medical care, and pandemic preparedness.
The funds will be managed by the Federal Ministry of Health and Social Welfare, alongside key agencies such as the National Primary Healthcare Development Agency, the National Health Insurance Authority, and the Nigeria Centre for Disease Control and Prevention.
State governments will also be involved in implementation through their respective Ministries of Health, Primary Healthcare Development Boards, and other agencies.
Details of the repayment structure show that the loan will be serviced twice a year, with instalments due every April 15 and October 15.
Between 2029 and 2049, Nigeria will repay the principal at a rate of 1.65 per cent annually, after which the rate will increase to 3.40 per cent from 2049 until 2054.
The loan also attracts a commitment charge of 0.5 per cent on unwithdrawn funds and a service charge of 0.75 per cent on withdrawn balances.
However, the total repayment cost may fluctuate due to currency conversion adjustments. The funds will be disbursed based on specific healthcare performance indicators, ensuring that money is released only upon achieving measurable results.
These indicators include increasing access to primary healthcare services, expanding emergency obstetric and neonatal care, improving the supply of essential medicines, and strengthening Nigeria’s pandemic response framework.
A significant portion of the funds will also be used to enhance digital health infrastructure, improve climate resilience in the health sector, and ensure greater enrolment of vulnerable populations in health insurance schemes.
Despite the concessional terms, concerns have been raised over Nigeria’s growing external debt and rising debt servicing obligations. Given the continued depreciation of the naira, the real cost of repayment in local currency could rise significantly over the loan’s 25-year repayment duration.
The loan was approved on September 26, 2024, with an expected operational period starting in fiscal year 2025. The closing date is set for June 30, 2029, indicating that the programme will run for about four years, if the closing date is not extended.
However, the country will spend about 25 years repaying the loan from the proposed closing of 2029 to 2054.
The PUNCH earlier reported that the World Bank may approve a total of $1.13bn in loans for Nigeria before the end of March 2025 as part of ongoing efforts to support the country’s economic resilience, health security, and education reforms.
Among the projects set for negotiation is the Accelerating Nutrition Results in Nigeria 2.0 programme, valued at $80m, which is expected to be approved by March 31, 2025.
This initiative is aimed at improving nutrition outcomes, particularly among vulnerable groups, by enhancing access to essential dietary support and reducing malnutrition rates.
Another project in the negotiation phase is the Community Action for Resilience and Economic Stimulus Programme, which has a commitment value of $500m and is expected to be approved by March 24, 2025.
The project is designed to provide economic stimulus for community-driven initiatives to strengthen economic resilience and growth.
The HOPE for Quality Basic Education for All programme, with a proposed funding of $552.2m, is also at the negotiation stage and is expected to secure approval by March 31, 2025.
This initiative seeks to improve the quality of basic education by addressing infrastructure deficits, enhancing teacher training, and increasing educational accessibility across the country.
The potential approval of these loans comes at a time when Nigeria continues to grapple with economic challenges, including foreign exchange liquidity constraints, fiscal deficits, and mounting debt servicing obligations.
Nigeria expended a total of $5.47bn on external debt servicing between January 2024 and February 2025, according to data from the Central Bank of Nigeria.
The figures, published on the apex bank’s website, indicate the growing burden of debt obligations on the country’s external reserves and fiscal stability.
News
Fuji Icon KWAM 1 Formally Declares Interest in Awujale of Ijebuland Stool
Fuji music legend, King Wasiu Ayinde Marshal (KWAM 1), has officially declared his intention to be considered for the vacant Awujale of Ijebuland stool.
In a letter dated December 3, 2025, and addressed to the Fusengbuwa Ruling House of Agunsebi Quarters, Ayinde stated that his interest in the revered throne stems from his lineage as a bona fide son of the Oba Jadiara family.
According to him, “Otunba Wasiu Ayinde Adewale Olasunkanmi Omogbolahan Anifowoshe, MON, hereby formally notifies the Fusengbuwa Ruling House of my intention to be considered for the vacant stool of the Awujale of Ijebuland, subject strictly to the provisions of Ijebu customary law and Ogun State Chieftaincy Laws.”
He highlighted his ancestry, stating that his roots in the Fusengbuwa Ruling House qualify him to vie for the throne. Ayinde added that he has dedicated more than five decades to promoting Ijebu, Yoruba, and Nigerian culture through music and cultural projects.
KWAM 1 also referenced his various honours, including his installation as Mayegun of Yorubaland in 2020, his conferment as Olori Omo-Oba and Otunba Afidipotemole of Akile Ijebu in 2023 by the late Awujale, and his national honour as a Member of the Order of the Niger (MON) in 2022.
The musician expressed optimism that the selection process for the next Awujale would be concluded within weeks.
Confirming receipt of Ayinde’s letter, the chairman of the Fusengbuwa Ruling House, Abdul Lateef Adebayo Owoyemi, urged family members to remain calm as the traditional process unfolds.
He noted that an official response had already been sent to Ayinde, as had been done for other recent declarations of interest.
“In Sha Allah, we shall all have cause to rejoice and thank the Almighty God, who alone makes anyone king, within a matter of weeks,” Owoyemi said, expressing confidence in a peaceful and successful conclusion of the selection process.
News
Enemies of press freedom: Why IPI recorded Egbetokun, Bago, Eno in its Black Book
The International Press Institute (IPI) Nigeria has defended its decision to blacklist Niger State Governor Mohammed Umaru Bago, Akwa Ibom State Governor Umo Eno, and Inspector-General of Police Kayode Egbetokun in its new Nigeria Book of Infamy—a public registry documenting officials who undermine press freedom.
The names were unveiled on December 2 at the 2025 IPI Nigeria Conference and AGM in Abuja, where Vice President Kashim Shettima and Information Minister Mohammed Idris formally launched the book.
IPI said the initiative aims to hold state actors accountable for actions that intimidate journalists or violate constitutionally protected media rights.
IPI Nigeria President, Musikilu Mojeed, announced that the first set of entries would include the two governors and the police chief, citing their “repeated excesses against the media” despite multiple attempts at constructive engagement.
In a detailed statement released Thursday, the institute outlined the violations that led to their inclusion.
IPI Nigeria accused Governor Bago of overseeing persistent attacks on journalists and media organisations in Niger State.
The most blatant, it said, was the shutdown of Badegi 90.1 FM in Minna on August 1, 2025.
During an APC meeting, Bago reportedly ordered the Commissioner for Homeland Security and the Commissioner of Police to seal the station and profile its owner over alleged criticism of his administration.
IPI condemned the action on August 3 and attempted dialogue with the state government, but said its efforts were ignored.
Although public pressure forced the reopening of the station, the institute said harassment of journalists in the state continued.
News
FCT minister, Wike reveals his secret, says my guiding spirit is to remain focused, hails contractor
…insists he likes sticking to mandates
…says defectors in Rivers kept him in the dark
By Emmanuel Agaji
The Federal Capital Territory FCT Minister Nyesom Wike has revealed the secret that has made him successful declaring that his guiding spirit has been his ability to remain focused.
Addressing journalists shortly after inspecting ongoing construction work at Katampe on Friday, the action packed minister said he tries not to allow distractions overshadow his productivity.
On rumours about his health and his alleged arrest in France, the minister rubbished such insinuations with a wave of his hand.
Hear him:
“Well, let me first of all commend the contractor CDC Global. It was awarded before we came on board. And I know I came here sometimes in November last year 2024. At that time they were doing the piling work but from what you have seen the contractors have done very well.
“And they have promised that in the next three months this interchange would have been completed. What surprises me is the confidence they have even though we have not funded them very well but you can see the level of work they have done. I am really impressed and we are going to make sure that the contractors having that confidence in us, we will make sure that this job is well funded so that they will be able to complete it as they have promised in the next three months.
” The quality of job is quite encouraging. And we want to thank Mr President for the confidence he also has in us and that is why most contractors are working even without the funding believing that they will be paid and that is what is required, I’m so happy.
“And this will decongest the traffic situation that leads to Gwarimpa Estate. It is really amazing and I am sure residents here will be happy at the end of the day when this interchange is completed.
“I am very happy, I must commend them. And tell the people of Abuja that this administration means well and all we are doing for Abuja is for Abuja to compete with other cities in the world. So I am very, very happy. And that is to say when contractors have confidence in the administration nothing can stop you moving forward.
“What is important is that I remain focused. Like you said they were the ones that were arrested. Like you said on Saturday we were inspecting Kubwa road, you see people will like to distract you, but the moment you are focused, you know what you are doing and do not be perturbed by whatever they say.
“You remembered the last time they said they were sick and they were flown overseas, this time around they said they have been arrested in France. I am doing my job, so it’s for you to remain focused and your boss the President is happy with what you are doing and then you too you are focused to deliver on the mandate that have been given to you.
“People will say all kinds of things but they are happy that we are doing the job. But because they want to distract you, they want to carry all kinds of propaganda but since you know what you are doing, the only thing is to remain focused and deliver on the mandate given to you by Mr President.
“So all those things don’t bother me, what is important is that you are doing your job. When they carry all these kinds of lies, at a point people will no longer even read the junks they’re trying to tell.
“So for me focus is the major thing, are you focused, don’t try to be distracted, critics will always not be happy that you are doing well. So we are focused and we will not be distracted.
Well it is unfortunate. I have always said everybody has the right to make a choice, the party is fully fractionalized and when it is fractionalized, they are bound to leave the party. I am still in PDP, you can see that not everybody has left.
” I believe 16 or 17 of them have left out of 27, we still have quite a good number about 10 and we will continue to work together. They never told me but they have a right.
” So those who remain we will continue to work together. And that is what I have said to the party, put your house in order so that at the end of the day if you don’t put your house in order, it is the party that loses and it behoves on the party to work to see how they remain relevant opposition.
“But they choose not to. So for me those who have left, they are free but those that remain in the party we will continue to work together.
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