The World Bank has approved an additional $65 million credit facility for Nigeria under the Sustainable Procurement, Environmental, and Social Standards Enhancement (SPESSE) project, bringing the total project financing to $145 million.
According to official records from the Washington-based lender, the approval was granted on June 24, 2025, ahead of the earlier projected timeline of June 30. The new funds are aimed at scaling up interventions across procurement and public sector reform, particularly in enhancing transparency and efficiency through the Electronic Government Procurement (e-GP) system.
The e-GP platform is designed to reduce procurement delays, minimize corruption, and promote better use of public resources, aligning with Nigeria’s broader goal of strengthening institutional governance. The additional financing will also support professional certification programmes for the country’s procurement workforce. Although over 33,000 individuals have already received training, assessments show that more than 25,000 public officials still require capacity building.
A document from the World Bank confirmed that the additional financing “will maintain the PDO [Project Development Objective] of the parent project without any change,” reiterating the objective to develop sustainable capacity in managing procurement, environmental, and social standards in both the public and private sectors.
The SPESSE project, which became active in 2021 following an initial $80 million loan approved in February 2020, has been recognised for its impact in reducing inefficiencies in public procurement. It also supports inclusive procurement practices, benefiting small and medium enterprises, including women-led businesses.
The World Bank has now updated the project status to “active”, confirming it has reached the “Bank Approved” stage for the new credit line. While the parent project remains scheduled to close on June 30, 2026, the newly approved financing is expected to remain active until June 30, 2029.
“The parent credit will be closed on June 30, 2026, without any extension; however, the AF [Additional Financing] is proposed to be closed on June 30, 2029,” the document stated.
The SPESSE initiative is a cornerstone of Nigeria’s public sector reform agenda, especially as the country continues to grapple with fiscal challenges and pursues better service delivery through institutional strengthening.
According to data from Nigeria’s Debt Management Office, the country’s total debt to the World Bank stood at $18.23 billion as of March 2025, comprising $16.99 billion from the International Development Association (IDA) and $1.24 billion from the International Bank for Reconstruction and Development (IBRD).
