The World Bank has introduced a six-year partnership plan that will support investment, jobs, electricity, digital services and agriculture between 2026 and 2032, following its approval of a $1.25 billion loan for Nigeria.
The new programme sets out how the World Bank Group plans to work with Nigeria over the next six years. It combines policy financing with support for key sectors that affect businesses and households. The institution said its goal is to help create more jobs by improving conditions for private investment and strengthening important parts of the economy.
The Country Partnership Framework covers the period from 2026 to 2032. It focuses on expanding electricity supply, improving internet access, supporting agriculture, strengthening health and nutrition services, and building human capital. The World Bank said these efforts are meant to help more Nigerians benefit from economic opportunities.
The partnership also builds on recent economic reforms introduced by the Federal Government. The bank said Nigeria has recorded stronger economic growth, higher government revenue, larger foreign exchange reserves and better investor confidence. It said more work is needed to deal with long-standing challenges that affect business activity and employment.
As part of the framework, the World Bank said it plans to help expand electricity access to 32 million Nigerians. It also aims to improve broadband access for 58 million people, strengthen health and nutrition services for 40 million citizens and support 9.5 million farmers through better agricultural productivity and improved access to quality seeds.
The World Bank Board approved the Nigeria Actions for Investment and Jobs Acceleration Development Policy Financing operation as part of this wider plan.
The $1.25 billion financing will support government reforms meant to improve economic competitiveness and encourage private investment.
These reforms include strengthening Nigeria’s capital markets, modernising rules for the digital economy and electronic governance, advancing power sector reforms, reducing trade barriers under commitments to the Economic Community of West African States and the African Continental Free Trade Area, improving access to quality agricultural seeds and strengthening domestic revenue mobilisation.
The World Bank said the financing package combines policy lending with investment support in energy, digital infrastructure, agriculture, private sector development and social protection.
World Bank Country Director for Nigeria, Mathew Verghis, said the partnership framework provides the strategy for supporting Nigeria over the coming years with a strong focus on creating more and better jobs through private sector-led growth.
He said recent macroeconomic reforms have helped stabilise the economy, but better living standards will depend on dealing with deeper structural problems that affect private investment and employment.
The World Bank Group also said its private sector institutions, the International Finance Corporation (IFC) and the Multilateral Investment Guarantee Agency (MIGA), will support investment under the new framework.
IFC Divisional Director for Nigeria, Dahlia Khalifa, said Nigeria’s long-term economic future depends on attracting investment, improving productivity and creating jobs through private businesses. She said the framework is expected to encourage investment, improve infrastructure and expand access to essential services.
MIGA Vice President and Chief Financial Officer, Ed Mountfield, said Nigeria’s reform programme has created investment opportunities, although investors still face risks. He said MIGA will provide guarantees and political risk insurance to encourage investment in sectors such as infrastructure and financial services.
The loan approval came a few days after public criticism on social media over Nigeria’s rising debt and the country’s use of external borrowing. Despite those reactions, the World Bank approved the financing as part of its wider partnership strategy.
The Nigeria Actions for Investment and Jobs Acceleration programme lists the Federal Republic of Nigeria as the borrower, with the Federal Ministry of Finance serving as the implementing agency.
The facility is also the second-largest single World Bank loan approved for Nigeria under President Bola Tinubu, after the $1.5 billion Reforms for Economic Stabilisation to Enable Transformation Development Policy Financing approved in June 2024.
The new partnership framework and financing package set out the World Bank’s planned support for Nigeria over the next six years, with investment, infrastructure, economic reforms and job creation forming the centre of that programme.