The Federal Government has requested a $500 million loan from the World Bank to address Nigeria’s water security challenges and enhance agricultural productivity through the Sustainable Power and Irrigation for Nigeria Project (SPIN).
The loan, expected to be approved on September 26, 2024, will focus on four critical areas: institutional strengthening and capacity building, irrigation modernization, improvements in dam operations and safety, and project management.
According to the World Bank’s Project Information Document, Nigeria faces water security challenges exacerbated by climate change, impacting water availability for drinking, energy, and food production.
The SPIN project aims to reinforce federal and state institutions responsible for water resource management, develop national dam safety guidelines, and create a comprehensive hydropower master plan.
The document notes that Nigeria has over 400 dams, many of which require rehabilitation, and that the 2022 floods, which caused an estimated $6.7 billion in economic damage, underscore the urgent need for improved dam safety and water management.
The project will also rehabilitate and modernize 40,000 hectares of irrigated land, establish Water User Associations, and focus on rehabilitating and enhancing the safety of priority dams.
Effective project implementation, monitoring, and evaluation will be ensured through the establishment of a Federal Project Management Unit and Technical Units at both federal and state levels.
