World Bank approves $500 million loan for Nigeria’s rural road infrastructure

The World Bank has approved a $500 million concessional loan for the Rural Access Agricultural Marketing Project-Scale Up (RAAMP-SU), aimed at improving Nigeria’s rural road infrastructure.

According to a statement from the World Bank, this financing, alongside an additional $100 million contribution from the Nigerian government, will help address the pressing infrastructure challenges faced by rural communities across the country.

The statement reads: “The World Bank has approved $500 million in concessional financing for the Rural Access Agricultural Marketing Project- Scale Up (RAAMP-SU) in Nigeria, the Government of Nigeria will finance an additional $100 million towards the project. This program aims to improve sustainability in the rural road sector by supporting states in establishing and operationalizing State Road Funds (SRF) and State Rural Access Roads Agency (RARA) and equipping the states and the Ministry of Agriculture to create a culture of maintenance and long-term infrastructure planning.”

Approved on December 13, 2024, the project is a response to the deteriorating state of Nigeria’s road network, with a staggering 80% of roads in rural areas currently classified as being in poor condition.

These infrastructural gaps are compounded by inadequate funding and the worsening impacts of climate change, such as extreme heat and heavy rainfall, which have caused further damage to the country’s roads.

By focusing on climate-resilient infrastructure, the project seeks to mitigate the long-term effects of these climate risks while improving connectivity in rural regions.

FG targets 6,500 kilometers of rural roads
The RAAMP-SU program aims to rehabilitate, upgrade, and maintain 6,500 kilometers of rural roads across various states, improving access to markets, healthcare, and employment opportunities for millions of Nigerians.