The $22.7 billion loan request presented by President Muhammad Buhari has been approved by the senate. This request was previously rejected by the Saraki assembly.

This money is meant for completion of some ongoing projects and also to start new ones. The loan is from seven major banks: Exim Bank of China, World Bank, Africa Development Bank, Islamic Development Bank, Japan International Cooperation, German Development Bank and French Development Agency.

The largest quota from this loan goes to infrastructural development. This includes several railway projects and road rehabilitation.



– Emergency road rehabilitation and maintenance ($434.7m, nationwide)

– Abidjan-Lagos corridor highway development project study ($1.5m; multinational) – Abuja mass rail transit project (phase 2) ($1.25bn; FCT)

– East-west road ($800m; Niger Delta)

– Nigeria Housing Finance Project Guarantee Scheme ($100m; national)

– Lagos-Kano railway modernisation project (Ibadan-Kano segment double track) ($5.53bn; Ibadan-Kano states)

– Railway modernisation coastal railway project (Calabar-Port Harcourt-Onne deep sea port segment ($3.47bn; Cross River and Rivers states)


– National Social Safety Net Project ($500m, nationwide)

– Multi-sectoral crises recovery programme ($200m, north-east)

– North-east Nigeria integrated social protection, basic health, education, nutrition services and livelihood restoration project ($100m; north-east)


– Power transmission project ($200m; Lagos, Ogun)

– Vocational training in power sector ($50m; FCT, Lagos, Ogun. Kano, Plateau, Niger, Enugu, Kaduna and Cross River)

– TCN overall transportation system enhancement project ($200m; nationwide)

– Mambila hydro-electric power project ($4.8bn; Taraba)

– Nigeria Electricity Transmission and Access Project ($364m; nationwide)


– Development finance project ($500m, nationwide)

– Kaduna state economic transformation program for results ($35m, Kaduna)

– Development finance project (2) ($450m, min. of power)

– Development finance project (3) ($20m, nationwide)

– MSMEs project ($1.28bn; nationwide)


– NTA digitisation project ($500m; nationwide)

– National Information and Communication Technology Infrastructural Backbone Project (NICTIB) phase II ($328.1m; Lagos, Abuja, Ibadan, Akure, Maiduguri, Lokoja, Kaduna, Akwanga, Bauchi, Kano, Katsina)