NIGERIA - Economic Governance and Energy Transition Support Program (EGET-SP) Phase I

Management submits the proposal and recommendation for an ADB Loan of an amount not exceeding Five Hundred Million United States Dollars (USD 500million) to the Federal Republic of Nigeria to finance the first phase of the Economic Governance and Energy Transition Support Program (EGET-SP). The EGET-SP is designed as a multi-sector budget support programmatic operation covering the fiscal years 2024and 2025. The proposed operation is the first of the two-year programmatic series and follows a program-based approach to help improve aid predictability in the short to medium term, shore up reserves and better sequence priority reforms in key sectors driving growth.