Floods: World Bank approves $500m Nigeria loan

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The World Bank has approved a $500m loan for Nigeria to tackle flooding, restore degraded land, and reduce conflicts in 19 northern states and the FCT. Read More:…

The World Bank has approved $500 million in financing for Nigeria to tackle flooding, restore degraded agricultural land and reduce conflicts between farmers, herders and rural communities across the northern part of the country.

The funding, approved under the Agro-Climatic Resilience in Semi-Arid Landscapes Project, is expected to strengthen climate resilience, improve water management and support agricultural productivity in 19 northern states and the Federal Capital Territory.

According to a statement obtained by The PUNCH from the World Bank’s website on Wednesday, the additional financing will support the restoration of 1.4 million hectares of land and benefit approximately 6.6 million people by 2031.

The financing will also support watershed rehabilitation, erosion control and improved management of natural resources in communities vulnerable to climate-related disasters.

“The World Bank has approved $500m in additional financing for the Agro-Climatic Resilience in Semi-Arid Landscapes Project to help Nigeria scale up climate resilience, restore degraded landscapes, improve water management, and strengthen livelihoods across northern Nigeria.

“By 2031, this fund will help restore landscapes, rehabilitate watersheds, improve erosion and flood management, and build more resilient rural livelihoods, reaching 1.4 million hectares and benefiting 6.6 million people. This is expected to lead to an increase in household incomes, reduced farmer/community/herder conflicts, increases in vegetation health, reduced flooding and associated fatalities, improved soil health and agricultural productivity,” the statement read.

The World Bank explained that the intervention would build on the achievements of the existing ACReSAL project, which commenced in 2022 to address environmental degradation and climate vulnerabilities across northern Nigeria.

According to the bank, the programme has introduced sustainable landscape management practices on approximately 550,000 hectares and…

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