World Bank Approves $500m Funding to Tackle Flooding in Northern Nigeria

The World Bank has approved an additional $500 million in financing for Nigeria to address flooding, environmental degradation and other challenges affecting rural communities, particularly in the northern part of the country.

The funding is expected to support the restoration of degraded agricultural land, improve water management and strengthen communities that are vulnerable to climate-related disasters. It will be implemented under the Agro-Climatic Resilience in Semi-Arid Landscapes (ACReSAL) Project.

According to details released by the World Bank, the programme is expected to restore approximately 1.4 million hectares of land and benefit about 6.6 million people by 2031. The intervention will also cover watershed rehabilitation, erosion control and improved agricultural practices.

The project will operate across Nigeria’s 19 northern states and the Federal Capital Territory, with the Federal Ministries of Environment, Agriculture and Water Resources involved in its implementation.

World Bank Country Director for Nigeria, Mathew Verghis, said the additional financing would expand existing efforts to improve food security, water access, agricultural productivity and economic opportunities in vulnerable communities.

The approval comes amid growing concerns about Nigeria’s rising external debt and the financial implications of additional borrowing.