The World Bank has approved an extra $65 million in funding for Nigeria to strengthen its public procurement processes and reinforce environmental and social compliance frameworks.
This new credit brings the total support for the Sustainable Procurement, Environmental, and Social Standards Enhancement (SPESSE) project to $145 million. Documents from the World Bank indicate the latest funding was approved on June 24, 2025, ahead of the initially anticipated June 30 deadline. The project status has since been updated to “active,” reaching the “Bank Approved” phase.
Launched in 2021 following an initial $80 million loan secured in February 2020, the SPESSE initiative aims to institutionalize sustainable procurement practices and enhance adherence to environmental and social standards across Nigeria’s public and private sectors.
A significant portion of the newly approved financing will be directed at expanding key components of the project, particularly the deployment of an Electronic Government Procurement (e-GP) platform. This system is designed to improve transparency, cut down on procurement delays, and enable more prudent use of government funds.
According to a statement from the bank, “The additional financing will retain the original development objective of the parent project. The goal remains to build long-term capacity for managing procurement and ensuring compliance with environmental and social safeguards in both public and private sectors.”
Beyond system upgrades, the funding will also support professional training and certification efforts. Although over 33,000 individuals have already received training under the project, official assessments reveal that more than 25,000 public officials still require capacity-building support.
The SPESSE program has received praise for tackling inefficiencies and curbing corruption in procurement practices, while also encouraging inclusive opportunities for SMEs and businesses led by women.
While the original SPESSE project is slated to conclude by June 30, 2026, the newly added financing will remain active through June 30, 2029. “The parent credit will close by June 30, 2026, with no extension. However, the additional financing is scheduled to end by June 30, 2029,” the World Bank clarified.
As Nigeria navigates tight fiscal conditions, the project remains central to broader public sector reform efforts focused on improving institutional performance and service delivery.
Meanwhile, data from Nigeria’s Debt Management Office revealed that as of March 2025, the country’s total debt to the World Bank had climbed to $18.23 billion—$16.99 billion from the International Development Association (IDA) and $1.24 billion from the International Bank for Reconstruction and Development (IBRD).
Are you ready to take advantage of this?
