The Federal Government of Nigeria has received a new $500 million loan from the African Development Bank Group, increasing the Bank’s total active financial commitment to the nation to $5.1 billion as of October 31, 2025. The second phase of the Economic Governance and Energy Transition Support Programme, which aims to improve fiscal management, expedite energy sector changes, and further Nigeria’s climate goals, will be funded by the new institution.The Bank stated that its Board of Directors approved the loan during a meeting in Abidjan in a statement released by Alexis Adós of the AfDB’s Communication and External Relations Department. The operation will enhance reforms started in the program’s initial phase and span fiscal years 2024 and 2025.
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