BREAKING: President Tinubu Pushes Nigeria Further Into Debt with $62.8m Kuwait Loan
Nigeria continues to accumulate foreign debt under Bola Tinubu’s administration as the Federal Government has secured a $62.8 million concessional loan from the Kuwait Fund for Arab Economic Development.
The financing agreement, signed in 2025, supports the Reaching Out-of-School Children (ROOSC) programme, initially focused on Kaduna State.
It forms part of a broader blended funding package involving partners such as the Islamic Development Bank, Global Partnership for Education, Education Above All Foundation, Save the Children International, and Kaduna State Government contributions.
The loan aims to construct and rehabilitate climate-resilient schools—designed to withstand environmental challenges like flooding and extreme weather—while improving teacher training, enhancing nutrition outcomes, and expanding inclusive access to education.
Priority targets include girls, older out-of-school children, those with disabilities, and vulnerable groups such as internally displaced children and Almajiri populations.
In Kaduna State, the initiative is expected to deliver 102 new climate-resilient schools, rehabilitate 170 learning centres across all 23 local government areas, and help enrol tens of thousands of children, with broader national ambitions to address Nigeria’s estimated millions of out-of-school children.
The agreement was signed by the Honourable Minister of State for Finance, Dr. Doris Uzoka-Anite, on behalf of the Federal Government, and Dr. Waleed Al-Bahar, Director General of the Kuwait Fund.
It marks the Kuwait Fund’s first major direct intervention in Nigeria’s education sector and aligns with Tinubu’s Renewed Hope Agenda priorities on human capital development and inclusive growth.
This latest borrowing arrives amid Nigeria’s escalating public debt profile, which surpassed ₦152 trillion by mid-2025 according to Debt Management Office figures, with earlier reports highlighting debt crossing ₦99 trillion following related external borrowings.
Critics have expressed alarm over the pattern of securing foreign loans—even concessional ones—for development projects, questioning fiscal sustainability, repayment burdens on future generations, and transparency in fund utilisation amid ongoing economic pressures including inflation, currency depreciation, and subsidy removal impacts.
Bola Tinubu
Public sentiment on social media has reflected widespread scepticism, with many users viewing such loans as part of a broader “borrowing spree” that raises doubts about long-term accountability and whether funds reach intended beneficiaries or risk diversion.
Supporters argue the concessional terms (typically low-interest, long-maturity) make it strategic for critical sectors like education and climate adaptation in a country facing acute infrastructure and inclusion challenges.
The announcement gained renewed attention during Kuwait’s National Day celebrations in February 2026, where Nigerian officials highlighted deepening bilateral ties in education, infrastructure, energy, and agriculture, with plans for a Nigeria-Kuwait Joint Commission for Cooperation.
