The Federal Government of Nigeria is in discussions with the World Bank to secure a substantial $500 million loan aimed at addressing critical challenges in the nation’s education and healthcare sectors. This initiative falls under the Nigeria Human Capital Opportunities for Prosperity and Equity (HOPE) Governance Program, with the final approval from the World Bank expected on September 26, 2024.
The proposed funding seeks to tackle long-standing staffing shortages, enhance performance management for educators and healthcare workers, and improve financial accountability within these sectors.
Additionally, the loan will support the implementation of systems to enhance payroll management and curb fraud, utilizing tools like the Central Bank of Nigeria’s Bank Verification Number (BVN) and National Identity Number (NIN) platforms.
