The World Bank Group Board has approved an additional $65 million loan for Nigeria to assist the country in the implementation of the Sustainable Procurement, Environmental, and Social Standards Enhancement (SPESSE) project, raising the bank’s credit facility on the project to $145 million.
The SPESSE project, which commenced in 2021 following an initial $80 million loan approved for Nigeria in February 2020, is aimed at strengthening Nigeria’s procurement systems and enhancing compliance with environmental and social standards across the broad spectrum of public and private sectors.
Available information from the bank showed that the new $65 million credit facility for the country was approved on June 24, 2025, and based on the approval the project status has now been updated to “active”.
According to the project’s design, the new credit facility will be used to enhance the project, including the implementation of the Electronic Government Procurement (e-GP) system and by implication, enhance transparency, reduce procurement delays, and promote more efficient use of public funds.
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On the additional financing, the Bretton Woods institution stated: “The AF will maintain the PDO of the parent project without any change. The project development objective is to develop sustainable capacity in managing procurement, environment, and social standards in the public and private sectors.”
Also, the new credit facility will support certification programmes to professionalise Nigeria’s procurement workforce.
Already over 33,000 individuals had already been trained under the SPESSE project, while assessments by the Nigerian government indicated that more than 25,000 public officials would still be trained for improved procurement system in the public service.
While the parent project is scheduled to close on June 30 2026, the latest funding facility is expected to remain active until June 30, 2029,
The World Bank clarified: “The parent credit will be closed on June 30, 2026, without any extension; however, the AF is proposed to be closed on June 30, 2029.”
Analysts believe that the SPESSE initiative will positively impact on the nation’s procurement processes by reducing inefficiencies and corruption as well as promote inclusive procurement that will benefit small and medium-sized enterprises (SMEs), including women-led businesses.
