A director of the African Bank of Development (BAD) said on Monday, October 6, 2025 that the bank will grant this year a 500 million dollar loan to Nigeria. This loan will be granted under a $1 billion budget support program dollars, following economic reforms initiated by President Bola Tinubu.

ADB investment could be approved before the end of the year according to Bode Oyetunde, representative of Nigeria and São Tome and Principe. On the sidelines of the Nigerian Economic Summit in Abuja, Oyetunde declared that they are strongly committed “to supporting reforms very daring and ambitious macroeconomic policies, led by the president Tinubu. Given the magnitude of these reforms, it was important to support Nigeria.”

“They have us sought for 1.5 billion dollars. We can grant a billion over two years. Last year, we already provided $500 million in budget support. This year, we are considering allocating 500 million again, subject to the approval of the board” said Bode Oyetunde.