The World Bank has approved a fresh $1.25 billion loan facility for Nigeria under a new programme aimed at accelerating investment, job creation and economic growth.
The facility, approved under the Nigeria Actions for Investment and Jobs Acceleration Programme, was announced alongside the unveiling of a new Country Partnership Framework (CPF) for Nigeria covering the 2026–2032 period.
The development comes amid ongoing public concerns over Nigeria’s rising debt profile and continued dependence on external borrowing to finance development priorities.
According to the World Bank, the newly introduced framework outlines the institution’s long-term strategy for supporting Nigeria over the next six years, with emphasis on private sector-led growth, economic inclusion and employment generation.
The bank stated that the programme is designed to support reforms that improve the business environment, attract investment and expand economic opportunities for Nigerians.
It explained that the objective is to help transition the country toward a more inclusive economy where growth translates into improved living standards and broader social impact.
In its assessment, the World Bank acknowledged recent economic reforms undertaken by Nigeria and noted signs of progress in key macroeconomic indicators.
According to the institution, areas showing improvement include government revenue generation, foreign exchange reserves, investor confidence and overall economic stability.
However, the bank stressed that additional reforms and stronger implementation would be necessary to ensure that economic gains result in tangible improvements in citizens’ daily lives.
As part of the new partnership framework, the World Bank outlined key development targets expected to be pursued during the implementation period.
These targets include:
• Expanding electricity access to approximately 32 million Nigerians
• Increasing broadband internet coverage to about 58 million people
• Improving health and nutrition services for nearly 40 million citizens
• Supporting approximately 9.5 million farmers to boost agricultural productivity
The framework also prioritises investments in human capital development, agricultural transformation, energy access, digital infrastructure and workforce skills development.
According to the World Bank, strengthening these sectors is expected to stimulate productivity, create employment opportunities and support long-term national development.
The latest approval adds to Nigeria’s existing engagements with international financial institutions as the government continues efforts to drive economic recovery, infrastructure development and sustainable growth.
