The World Bank has approved a $1.25 billion Development Policy Financing (DPF) package for Nigeria to support reforms aimed at boosting investment, creating jobs and sustaining economic growth.
The funding is part of the bank’s new six-year Country Partnership Framework (CPF) for Nigeria, covering 2026 to 2032, which seeks to drive private sector-led growth and expand employment opportunities across the country.
In a statement issued on Wednesday, the World Bank said the financing will be channelled through the Nigeria Actions for Investment and Jobs Acceleration (NAIJA) programme. The initiative is expected to support reforms in capital markets, digital economy regulation, power sector development, trade liberalisation under the Economic Community of West African States and the African Continental Free Trade Area, agricultural inputs and domestic revenue generation.
According to the lender, the programme is targeted at expanding electricity access to 32 million Nigerians, providing broadband connectivity to 58 million people, improving health and nutrition services for 40 million citizens, and supporting 9.5 million farmers.
The World Bank said the CPF would shape its engagement with Nigeria over the next six years, focusing on removing barriers to private investment, strengthening economic resilience and promoting productive job creation.
Speaking on the framework, Mathew Verghis said it builds on recent macroeconomic reforms that have strengthened economic growth, increased government revenues and improved investor confidence.
He noted, however, that maintaining the momentum would require tackling structural constraints that continue to limit private sector investment.
“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 said.
The World Bank added that the framework aligns with Nigeria’s development priorities and is intended to foster inclusive growth through investments in infrastructure, human capital development, digital connectivity and agricultural productivity.
