The African Development Bank Group has approved a new $500 million loan for the Federal Government of Nigeria, pushing the Bank’s total active financial commitment to the country to $5.1 billion as of October 31, 2025.
The fresh facility will finance the second phase of the Economic Governance and Energy Transition Support Programme, designed to strengthen fiscal management, accelerate energy-sector reforms, and advance Nigeria’s climate goals.
In a statement issued by Alexis Adélé of the AfDB’s Communication and External Relations Department, the Bank confirmed that its Board of Directors endorsed the loan during a meeting in Abidjan. The operation will cover fiscal years 2024 and 2025, deepening reforms initiated in the first phase of the programme.
The initiative focuses on three core strategic pillars. First, it seeks to deepen fiscal policy reforms by strengthening public financial management systems, improving transparency, and enhancing the efficiency of government spending.
Secondly, it aims to drive energy sector transformation, with emphasis on accelerating improvements in the power engineering space. The objective is to reduce energy poverty, expand electricity access, improve sector governance, and attract increased private-sector investment.
