Nigeria’s Debt Surges Past 99 Trillion naira as Tinubu Secures Fresh 25.3 Million dollars Loan From Kuwait Bola Tinubu led government has se...
Nigeria’s Debt Surges Past 99 Trillion naira as Tinubu Secures Fresh 25.3 Million dollars Loan From Kuwait
Bola Tinubu led government has secured a fresh $25.3 million concessionary loan from the Kuwait Fund for Arab Economic Development to finance the Reaching Out-of-School Children programme in Kaduna State.
The move comes as Nigeria’s total public debt surges past ₦99 trillion, stoking political backlash over Tinubu’s growing appetite for foreign loans.
The facility forms part of a wider $62.8m blended package with international partners that will expand access to quality, inclusive education and improve learning outcomes for some of Nigeria’s most vulnerable children.
Speaking at the event which held in his office in Abuja, the Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, stated that the programme reflects Nigeria’s commitment to transparency, accountability and results in social investment.
Represented by the Minister of State for Finance Dr Doris Uzoka-Anite, the Minister emphasised that “this partnership is about compassion, equity and the power of education.
“With millions of children still out of school, especially in the North, every dollar must translate into real change for the children and communities we serve. Kaduna State’s leadership and the strong engagement of our development partners give us confidence that this initiative will become a model for other states.”
Director-General of the Kuwait Fund, Dr Wahid Al-Bahar, described the project as an investment in hope.
“This is more than infrastructure. By enrolling over 100,000 children, building or upgrading more than 200 schools, and empowering thousands of teachers, we are helping to ensure that no child is left behind.
“The Kuwait Fund is proud to support this effort and looks forward to deepening our cooperation with Nigeria,” Al-Bahar noted.
The Executive Governor of Kaduna State, Senator Uba Sani, reaffirmed the State’s prioritisation of education and announced that Kaduna has provided its counterpart contribution in full.
“Education is the cornerstone of our transformation agenda. In 2025, we increased the education share of our budget to 26 percent.
“Under this programme, we will construct 102 new climate-resilient schools and rehabilitate or upgrade 170 existing schools and learning centres, with a focus on girls, children with disabilities and internally displaced children. This is about restoring dignity and opportunity to every child,” the governor assured
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