World Bank backs Nigeria 2026–2032 plan with $1.25 billion to spur jobs, private investment
The package backs reforms to deepen capital markets and expand access to electricity, broadband and health services for millions, the bank said.
- 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.
22 Articles
22 Articles
World Bank backs Nigeria 2026–2032 plan with $1.25 billion to spur jobs, private investment
The World Bank Group has approved a new long-term partnership strategy for Nigeria alongside $1.25 billion in financing, aiming to drive job creation and economic growth by unlocking private sector investment and expanding access to energy, digital, and agricultural services.
World Bank Backs Nigeria With $1.25 Billion Development Loan
The World Bank Group has approved a new long-term partnership strategy for Nigeria alongside $1.25 billion in financing, aiming to drive job creation and economic growth by unlocking private sector investment and expanding access to energy, digital, and agricultural services.
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.…
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