Reported by: Ijeoma G | Edited by: Pierre Antoine
Nigeria’s Federal Government has issued a strong warning to the World Bank over persistent delays in the approval and disbursement of loan facilities meant for key national development projects.
The warning was delivered by Nigeria’s Accountant-General of the Federation, Shamseldeen Ogunjimi, who expressed concern that prolonged processing timelines were beginning to affect project implementation and government planning.
According to Ogunjimi, the Federal Government may be forced to reconsider aspects of its loan relationship with the World Bank if the delays continue to interfere with national development objectives and budget execution schedules.
He stressed that the facilities being discussed are repayable loans and not grants or donations, arguing that excessive bureaucratic delays create serious difficulties for governments relying on the funds to finance infrastructure and development programmes.
The Accountant-General reportedly noted that in some situations, approval and disbursement processes stretch beyond six months, affecting project timelines, contractor mobilization and implementation targets across various sectors.
Nigeria has remained one of the largest recipients of World Bank financing in Africa, with multiple loan-supported programmes spanning infrastructure, healthcare, education, agriculture, social protection, energy and public sector reforms. According to World Bank records, Nigeria’s active portfolio includes dozens of projects worth billions of dollars.
In recent years, concerns have repeatedly emerged over Nigeria’s growing external debt profile, particularly loans obtained from multilateral institutions including the World Bank, African Development Bank and other international lenders. However, Nigerian authorities have consistently defended such borrowing as necessary for infrastructure expansion and economic recovery.
Ogunjimi also called on the World Bank to simplify and accelerate its internal approval systems to better align with Nigeria’s fiscal calendar and implementation needs. He argued that delayed funding can weaken the effectiveness of development projects and create avoidable disruptions in execution.
At the same time, the Accountant-General acknowledged concerns previously raised by the World Bank regarding Nigeria’s public financial management systems. He stated that the government is already implementing reforms aimed at improving transparency, accountability and efficiency in the management of public funds.
According to him, ongoing reforms include improvements in audit reporting, digital financial systems and fiscal oversight mechanisms designed to strengthen confidence in Nigeria’s financial governance structure.
The remarks come at a period when the Tinubu administration continues pursuing major economic reforms, including subsidy removal, foreign exchange adjustments and efforts to attract external financing for infrastructure and social development projects.
Analysts note that delays in loan disbursement can significantly affect public infrastructure programmes, especially projects tied to strict implementation timelines and counterpart funding arrangements involving federal and state governments.
As of the time of reporting, the World Bank had not publicly responded to the latest warning issued by the Nigerian government.
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