The World Bank has given the green light to a $1.25 billion financing package aimed at helping Nigeria drive economic reforms, attract private investment and generate jobs. The approval came through the Nigeria Actions for Investment and Jobs Acceleration (NAIJA) programme, which sits at the heart of the World Bank's new Country Partnership Framework (CPF) running from 2026 to 2032.
In announcing the decision on Wednesday, the World Bank said the money would back reforms designed to clear obstacles blocking private sector growth, boost competitiveness and create conditions for faster, more inclusive expansion. The funding will tackle issues ranging from capital markets and digital regulation to power sector growth, trade openness under ECOWAS and the African Continental Free Trade Area (AfCFTA), farm input systems and domestic tax collection.
The bank projects the initiative will extend electricity to 32 million Nigerians and bring broadband access to 58 million people. It will also strengthen health and nutrition services for 40 million citizens and back around 9.5 million farmers, according to the World Bank.
Over six years, the Country Partnership Framework will steer the World Bank's work in Nigeria with emphasis on drawing in private capital, building economic strength and creating productive employment. Mathew Verghis, the World Bank's country director for Nigeria, noted that recent macroeconomic reforms have lifted growth, boosted public revenues and revived investor appetite.
He warned, though, that Nigeria must keep pushing reforms forward to realise its full economic prospects. "The new Country Partnership Framework supports Nigeria's ambition to create more and better jobs by unlocking private investment and expanding opportunities for millions of Nigerians," Verghis told reporters.
The framework matches Nigeria's own goals by backing infrastructure spending, human capital development, digital links and farm productivity to spark sustained, private sector-driven growth, the bank added.
