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World Bank Approves Fresh $1.25bn Loan for Nigeria
The package targets private sector-led growth and more jobs as critics warn the new borrowing adds to Nigeria’s debt burden.
- On Wednesday, the World Bank approved a $1.25 billion loan under the NAIJA Development Policy Financing programme, launching a new 2026-2032 Country Partnership Framework for Nigeria to boost private sector-led growth.
- Recent economic reforms under President Bola Tinubu, including fuel subsidy removal, spurred 3.4% growth in 2024 but also contributed to public debt rising to $115.43bn and inflation peaking above 30%.
- The six-year strategy targets expanded infrastructure access, aiming to provide electricity for 32 million people, broadband connectivity for 58 million, and improved nutrition for 40 million citizens, while supporting 9.5 million farmers.
- MIGA Vice President Ed Mountfield and IFC Divisional Director Dahlia Khalifa stated the framework will leverage guarantees and insurance to manage investor risks, aiming to unleash private sector job creation.
- World Bank Country Director for Nigeria Mathew Verghis emphasized that translating macroeconomic gains into improved living standards requires addressing structural constraints to spur long-term investment, resilience, and poverty reduction.
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16 Articles
16 Articles
World Bank Backs Nigeria With $1.25 Billion Development Loan
·New York, United States
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World Bank approves $1.25bn for Nigeria to boost reforms, investment, jobs
By Yinka Kolawole, with agency report The World Bank has approved a fresh $1.25 billion financing package for Nigeria to support ongoing economic reforms, stimulate private investment and accelerate job creation. The funding, approved under the Nigeria Actions for Investment and Jobs Acceleration (NAIJA) programme, forms a key component of the World Bank’s new Country Partnership Framework (CPF) for Nigeria covering the period from 2026 to 2032.…
·Nigeria
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World Bank approves Nigeria strategy, $1.25bn financing package centred on private sector-led job creation
The World Bank has approved a new 2026-2032 partnership with Nigeria and a $1.25bn reform package to support private investment, job creation, energy, digital infrastructure and agriculture.
·Berlin, Germany
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Coverage Details
Total News Sources16
Leaning Left4Leaning Right0Center3Last UpdatedBias Distribution57% Left
Bias Distribution
- 57% of the sources lean Left
57% Left
L 57%
C 43%
Factuality
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