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Home Business news

World Bank approves $500m financing for Nigeria to tackle flooding

Oyinkansola Lemo by Oyinkansola Lemo
November 12, 2026
in Business news
0

The World Bank has approved an additional $500m in financing for Nigeria to strengthen climate resilience, tackle flooding and restore degraded agricultural land across vulnerable communities in the northern part of the country.

The funding was approved under the Agro-Climatic Resilience in Semi-Arid Landscapes (ACReSAL) project, which is designed to address environmental degradation, water insecurity and declining agricultural productivity.

According to the World Bank, the additional financing will support interventions across 19 northern states and the Federal Capital Territory, with the aim of improving livelihoods and protecting communities from the effects of climate change.

The programme is expected to restore approximately 1.4 million hectares of degraded land and benefit about 6.6 million people by 2031.

The funding will also support watershed rehabilitation, erosion control, improved water management and the restoration of natural resources.

The World Bank explained that the additional financing would build on the progress recorded under the existing ACReSAL programme, which commenced in 2022.

Since its introduction, the project has supported sustainable landscape management practices across approximately 550,000 hectares and reached more than 4.4 million beneficiaries.

The bank also disclosed that the programme had exceeded its target for improved catchment management, providing a foundation for expanding its activities.

World Bank Country Director for Nigeria, Mathew Verghis, said the additional financing would help expand solutions that have already demonstrated positive results in communities affected by environmental challenges.

He explained that investments in climate-resilient landscapes could improve livelihoods, strengthen food and water security and increase agricultural productivity.

The funding is particularly important for northern Nigeria, where desertification, irregular rainfall, soil degradation and water shortages continue to affect farming and other economic activities.

Flooding has also become a major concern for communities, particularly those dependent on agriculture for their livelihoods.

By restoring degraded land and improving water management, the project is expected to reduce the vulnerability of rural communities to climate-related disasters.

The programme will also support activities aimed at improving soil health, vegetation and agricultural production.

Another important objective is reducing conflicts associated with competition for natural resources.

Disagreements between farmers and herders have frequently been linked to pressure on available farmland, grazing areas and water resources.

The World Bank believes that improving access to productive land and water could help reduce some of the pressures contributing to these disputes.

The project is being implemented by the Federal Ministry of Environment in collaboration with the Federal Ministry of Water Resources and Sanitation and the Federal Ministry of Agriculture and Food Security.

The additional financing comes at a time when Nigeria is facing increasing pressure to strengthen its infrastructure and environmental protection systems.

For farmers and rural households, the success of the programme could mean improved access to water, more productive farmland and stronger protection against climate-related losses.

However, the effectiveness of the funding will depend on how efficiently the money is deployed and whether the projects deliver measurable improvements in the communities they are intended to serve.

The latest approval represents another major development in Nigeria’s cooperation with the World Bank on climate resilience and sustainable development.

Tags: #ClimateChangeWorld Bank#FloodManagement#NigeriaEconomy#WorldBank
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