The World Bank has approved an additional $65 million credit for Nigeria’s Sustainable Procurement, Environmental, and Social Standards Enhancement (SPESSE) project, increasing the total financing for the initiative to $145 million.
The original $80 million loan, secured in February 2020, aimed to modernise Nigeria’s public procurement processes and strengthen compliance with environmental and social safeguards. The new funding will continue to support this mission.
According to World Bank documents accessed by The PUNCH, the additional financing maintains the project’s existing objectives, focusing on building sustainable capacity within both public and private sectors for better procurement and environmental standards.
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To date, the SPESSE project has trained over 33,000 individuals in procurement and environmental compliance. The expanded financing will enhance implementation of the electronic government procurement (e‑GP) system, boost transparency, reduce delays, and broaden participation, particularly for SMEs and women-led businesses.
The funds will also support certification programmes to build a new cadre of procurement professionals in the public sector. A recent survey revealed over 25,000 government staff still lack training in procurement and social standards, underscoring the need for continued capacity-building.
With final approval expected by June 30, 2025, the overall project timeline remains unchanged: the initial loan will close by June 30, 2026, while the additional financing window extends to June 30, 2029.
