The World Bank has approved a fresh $1.25 billion financing package for Nigeria to support ongoing economic reforms, stimulate private sector investment and accelerate job creation.
The funding forms part of the Nigeria Actions for Investment and Jobs Acceleration (NAIJA) programme and was approved alongside a new Country Partnership Framework (CPF) that will guide the World Bank’s support for Nigeria from 2026 to 2032.
According to the global financial institution, the new framework is designed to strengthen economic growth by encouraging private investment, improving infrastructure and expanding access to essential services across the country.
The initiative aims to provide electricity to about 32 million Nigerians, expand broadband connectivity to 58 million people, improve healthcare and nutrition services for 40 million citizens, and support 9.5 million farmers through improved agricultural productivity.
The $1.25 billion financing will also back reforms aimed at improving Nigeria’s business environment, strengthening the digital economy, expanding energy access, boosting domestic revenue generation and enhancing the country’s competitiveness.
The World Bank noted that recent economic reforms have helped improve government revenue, strengthen foreign reserves and restore investor confidence, while stressing that sustained reforms and increased private sector participation will be key to creating more jobs and improving living standards across the country.
