Nigeria has secured a $1.25 billion financing package from the World Bank aimed at accelerating economic reforms, creating jobs and unlocking private sector-led growth under a new long-term partnership framework.
The funding forms part of the World Bank’s new Country Partnership Framework (CPF) for 2026–2032, which is designed to support Nigeria’s efforts to stimulate investment, expand employment opportunities and strengthen economic resilience. The package also includes the Nigeria Actions for Investment and Jobs Acceleration (NAIJA) program, which focuses on improving the business environment and encouraging private sector participation.
According to the World Bank, the programme will prioritize reforms in critical sectors including electricity, agriculture, digital infrastructure, financial markets and governance. Officials say these areas are essential to attracting investment, improving productivity and creating sustainable jobs for Nigeria’s rapidly growing population.
World Bank Country Director for Nigeria, Mathew Verghis, noted that while recent economic reforms have improved macroeconomic stability, deeper structural changes are still needed to translate those gains into better living standards and broader employment opportunities. The institution said the new strategy aims to help Nigeria build a more competitive economy driven by private enterprise rather than public spending alone.
The approval comes at a time when Nigeria is seeking to diversify its economy, reduce unemployment and attract greater foreign investment. However, the announcement has also renewed public debate over the country’s rising external debt, with critics urging the government to ensure the funds are transparently managed and invested in projects that deliver measurable economic benefits.
If effectively implemented, the World Bank believes the programme could strengthen Nigeria’s investment climate, expand opportunities for businesses and support inclusive economic growth over the next seven years.
