World Bank boosts Nigeria’s SPESSE initiative with fresh $65 million to deepen reforms.
New funds will expand e-procurement rollout and train 25,000 more public officers nationwide.
The World Bank has approved an additional $65 million credit facility for Nigeria’s Sustainable Procurement, Environmental, and Social Standards Enhancement (SPESSE) project, increasing the total project financing to $145 million. The new funding, approved on June 24, 2025, comes ahead of the previously scheduled date of June 30 and brings the SPESSE initiative into a new phase of national expansion.
The project, initially launched in 2021 with an $80 million loan approved in February 2020, aims to build institutional capacity across Nigeria’s public and private sectors in managing procurement, environmental sustainability, and social safeguards. The newly approved funds will support the nationwide rollout of the Electronic Government Procurement (e-GP) platform, alongside expanded training programmes to professionalise the country’s procurement workforce.
In a project document, the World Bank noted that this Additional Financing (AF) maintains the original development objectives without modification. It emphasised that the additional support will accelerate digitisation in government procurement, reduce inefficiencies, and bolster transparency in public spending.
“The AF will maintain the PDO of the parent project without any change,” the Bank confirmed, noting that more than 33,000 individuals have been trained so far, with another 25,000 public officers targeted in the next phase.
While the original SPESSE credit is scheduled to close by June 30, 2026, the additional financing will remain operational until June 30, 2029, ensuring continuity and scale in project impact.
The newly approved credit contributes to Nigeria’s increasing external obligations to the World Bank. As of March 2025, Nigeria’s total outstanding debt to the institution stood at $18.23 billion, up from $17.81 billion at the end of 2024 and $15.45 billion a year earlier. The country’s World Bank debt now accounts for 39.6% of its total external debt portfolio of $45.98 billion, according to data from the Debt Management Office (DMO).
This total includes:
- $16.99 billion owed to the International Development Association (IDA)
- $1.24 billion to the International Bank for Reconstruction and Development (IBRD)
The SPESSE project is a flagship effort in Nigeria’s broader strategy to strengthen institutional governance and deliver measurable improvements in public sector performance. It aligns with ongoing reforms aimed at improving accountability, reducing corruption risks, and creating long-term value in public investments.
