Market News

BY Onyinye Nwachukwu 

The World Bank has approved a $1.08 billion package aimed at boosting Nigeria’s education system, tackling malnutrition, and enhancing community resilience.

The financing, which includes a mix of new and additional funding, is designed to address the country’s most pressing challenges and support vulnerable groups, particularly in the wake of the COVID-19 pandemic and economic pressures.

The package includes $500 million in additional financing for the Community Action for Resilience and Economic Stimulus (NG-CARES) Program, $80 million for Accelerating Nutrition Results in Nigeria (ANRIN 2.0), and another $500 million for the Hope for Quality Basic Education for All (HOPE-EDU) program.

These initiatives align with Nigeria’s broader national development goals and focus on improving quality of life, economic recovery, and long-term sustainability for millions of citizens.

The NG-CARES Program, which has already provided support to over 15 million beneficiaries, will now receive additional funding to expand its scope. Initially created as a COVID-19 recovery program, NG-CARES has evolved into a broader effort aimed at strengthening household and community resilience.

The program delivers social transfers, labor-intensive public works, grants for small businesses, and food security interventions across all 36 states and the Federal Capital Territory (FCT).

The new funding will bolster these efforts as Nigeria grapples with the economic fallout from fuel subsidy reforms and currency unification.

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“The NG-CARES Program remains a vital lifeline for vulnerable populations, providing both immediate support and long-term resilience-building mechanisms,” Ndiamé Diop, World Bank’s Country Director for Nigeria said.

“This additional financing will enable the Nigerian government to further support vulnerable citizens and expand its reach during these challenging times.”

In parallel, the World Bank’s $80 million commitment to ANRIN 2.0 aims to combat malnutrition and food insecurity, particularly for pregnant women, lactating mothers, children under five, and adolescent girls.

This program builds on the success of the original ANRIN initiative, which reached over 13 million children between 2018 and 2024.

ANRIN 2.0 will focus on improving nutrition services at the primary healthcare level, increasing dietary diversity, and ensuring vulnerable groups gain better access to micronutrient-rich foods.

“Nutrition interventions are a key pillar in improving health outcomes in Nigeria,” Diop noted.

“The new financing for ANRIN 2.0 will help mitigate the risks of malnutrition and food insecurity, particularly among women and children.”

The third major initiative, HOPE-EDU, focuses on improving education quality by addressing foundational literacy and numeracy gaps.

The $500 million investment will support the Universal Basic Education program, benefiting 29 million children, 500,000 teachers, and 65,000 schools across the country.

The program will focus on structured pedagogy approaches, decentralized management of educational resources, and improving overcrowded classrooms.

Additionally, HOPE-EDU will receive co-financing of $52.18 million from the Global Partnership for Education Fund.

“Investing in human capital is crucial for Nigeria’s future,” Diop added.

“HOPE-EDU will help transform the education sector by implementing bold reforms and ensuring that the country’s rapidly growing youth population is equipped with the foundational skills necessary for economic prosperity.”

These funding approvals are part of Nigeria’s broader development strategy, which includes the National Development Plan (2021-2025) and the Multisectoral Plan of Action for Food and Nutrition.