The loan is aimed at boosting agricultural productivity and strengthening key value chains across participating states.

The World Bank is expected to approve a new $500 million loan for Nigeria next month.

The loan is aimed at boosting agricultural productivity and strengthening key value chains across participating states.

According to official project documents at the weekend, the loan has an estimated approval date of March 30, 2026.

The project lists a “Total Operation Cost” of $500 million, with “Total Financing” also put at $500 million.

The entire funding will be provided by the World Bank’s concessional lending arm, the International Development Association, through an IDA credit facility valued at $500 million.

The borrower is listed as the Federal Republic of Nigeria, while implementation will be handled by the Federal Ministry of Agriculture and Food Security alongside participating state governments.

The project is designed to increase smallholder productivity and strengthen targeted agricultural value chains in selected states. The World Bank noted that creating more and better jobs, while tackling food and nutrition insecurity, remains one of Nigeria’s most pressing development challenges.

The facility will be deployed across four major components.

These include integrating smallholder farmers into competitive value chains, modernizing smallholder production systems, strengthening policy frameworks and the enabling environment to attract private investment in input markets, and ensuring effective project coordination and monitoring.

The planned loan comes amid a continued rise in Nigeria’s external debt profile. Data show that funding from the International Development Association increased by $1.9 billion within one year, reaching $18.7 billion as of December 31, 2025.

According to the Debt Management Office, Nigeria’s total external debt stood at $46.98 billion as of June 30, 2025. Of that amount, the World Bank Group accounted for $19.39 billion.

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His body has been moved from Lagos to his hometown, Aghalope, in Delta State. Family members are expected to announce burial plans in the coming days.

Victor Eriabie, the veteran Nollywood actor, has passed away.

He passed away on the morning of February 17 at the age of 63. News of his de@th spread across the film industry, leaving colleagues and fans in mourning.

Eriabie became popular in the 1990s and early 2000s for his strong presence in Nigerian films. He gained wide attention through the movie series Izozo, a production that told the story of women trafficking and the struggles faced by victims. The film series was well-received at the time and brought him into the spotlight.

His body has been moved from Lagos to his hometown, Aghalope, in Delta State. Family members are expected to announce burial plans in the coming days.

The late actor was a graduate of the University of Port Harcourt. Over the years, he built a career that went beyond acting. He worked as a film producer, television host, and radio presenter.

He was also involved in media production and communications, serving as the chief executive officer of a media company and working as a playwright.

In recent years, he featured in films such as Love in a Pandemic and Unforgivable, both released in 2023. Despite being less active than in his early career days, he remained part of the entertainment space.

Throughout his time in Nollywood, Eriabie participated in numerous film and media projects. His early work, especially Izozo, drew public attention to social problems affecting women and young girls.

As of now, his family has not made public the cause of his de@th. Further details about his funeral arrangements are expected to be made known soon.

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Residents of Ondo State have condemned the commissioning of a borehole and one tricycle ambulance by Governor Lucky Aiyedatiwa as part of activities marking his first-year anniversary in office.

According to some of the residents, the state, being one of the oil-producing states in the country, deserves better, particularly as it receives huge allocations from FAAC.

In commemoration of his first anniversary in office as governor, Aiyedatiwa, represented by his Deputy, Dr Olayide Adelami, a few days ago commissioned the tricycle ambulance and a 100,000-litre water supply scheme at the Federal University of Technology Akure Teaching Hospital complex.

Infuriated by the development, a human rights activist, Omoyele Sowore, described the situation as an affliction.

He said, “An oil-producing state reduced to using a Kéké as an ambulance? Hon. Lucky Orimisan Aiyedatiwa presides over a state that receives derivation funds from oil revenue. Ondo is not bankrupt. Ondo is not landlocked. Ondo is not a war zone. Yet, citizens in medical distress are transported in tricycles? It is finished!.

On his part, a resident, who simply gave his name as Odunayo, said the commissioning can best be described as a show of shame, stressing that “it is truly disheartening to see Ondo State gradually losing its place among leading states.

“Imagine the government publicly commissioning a renovated primary health centre and a tricycle ambulance; it says a lot about the priorities of the Ondo State Government under the leadership of Lucky Orimisan Aiyedatiwa.

“This should not be celebrated as a landmark achievement. It raises serious concerns about the scale of development and ambition in the state. One even wonders whether the funds spent on mobilising for the commissioning ceremony may rival or exceed the actual cost of the project itself.

Oluwaseun Fashedemi: “This is so shameful for a governor to commission a Keke Maruwa ambulance. Ondo State citizens, how did you all get it wrong with bad governors?”

For Raphael Oyetogun, “What a shame. Local government chairmen are commissioning bigger projects far beyond these in Lagos State. While Wike built 13 flyovers, Alex Otti is working on bigger projects in Abia, and Zulum is doing greater works in Bornu State. Come to Delta State and see what Sheriff is doing in just 2 years.

“How did we get here in Ondo State? And some people are here applauding this government.”

Reacting to the development, Yomi Oyekan, an aide to Aiyedatiwa, stated that the tricycle ambulances are not a replacement for standard ambulances, disclosing that they are a strategic addition.

According to Oyekan, the ambulance tricycles were designed specifically for hard-to-reach rural communities, riverine areas, and narrow roads where conventional ambulances struggle to access quickly.

“Healthcare delivery is not about optics; it is about accessibility and saving lives. It is quite interesting to see some critics suddenly develop selective outrage over the recent distribution of modified tricycle ambulances.

“Were they blind when the administration of Lucky Orimisan Aiyedatiwa unveiled and distributed fully equipped conventional ambulances across the state? Were they silent when emergency medical services were strengthened, response systems upgraded, and healthcare facilities supported with life-saving equipment?

“Governance requires practical solutions tailored to real terrain and real people. Ondo State deserves both conventional ambulances for highways and advanced emergencies and agile tricycle units for interior communities. Selective criticism does not save lives; responsive leadership does.”

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