Tinubu Administration Secures $750m World Bank Loan to Boost Revenue ReformsThe Federal Government under the administration of President Bola Tinubu has secured a $750 million loan from the World Bank to support ongoing fiscal and revenue mobilisation reforms across the country.The loan was signed under the Accelerating Resource Mobilisation Reforms (ARMOR) Program-for-Results for Nigeria, following the World Bank’s approval of the facility on June 14, 2024. The final disbursement agreement was concluded five days later between the Bank and the Nigerian government.
The ARMOR Programme is aimed at strengthening Nigeria’s domestic resource mobilisation efforts through reforms designed to improve tax administration, enhance public financial management, and increase government revenue.The funding is expected to support the implementation of key reforms targeted at improving fiscal sustainability, strengthening institutional capacity, and boosting the country’s ability to generate and manage public resources more efficiently.
Joseph Akwagiobe is a media contributor from Cross River State, Nigeria, currently based in Abuja. He is a graduate of Microbiology and has earned several professional certifications across diverse fields, reflecting his commitment to continuous learning, professional growth, and excellence.