Nigeria has secured a fresh $1.25 billion loan from the World Bank following the approval of new financing aimed at supporting economic reforms, boosting private investment and creating jobs.
The funding forms part of the Nigeria Actions for Investment and Jobs Acceleration programme and was announced on Wednesday alongside the World Bank’s new Country Partnership Framework for Nigeria covering the 2026–2032 period.
In a statement, the global financial institution said the six-year framework is designed to promote sustainable economic growth by encouraging greater private sector participation.
“The World Bank Group has endorsed a new Country Partnership Framework for Nigeria spanning 2026–2032, setting out a strategy to create more and better jobs at scale by unlocking private sector-led growth,” the statement read.
It added, “The World Bank has also approved the Nigeria Actions for Investment and Jobs Acceleration Development Policy Financing operation, which supports Nigeria’s transition toward a more inclusive growth model that spurs growth and creates jobs.”
The approval comes at a time when many Nigerians have expressed concern over the country’s increasing external debt, with critics questioning the impact of repeated borrowing on living conditions and economic development.
According to the World Bank, recent economic reforms have strengthened Nigeria’s macroeconomic outlook by increasing government revenue, improving foreign reserves, supporting economic growth and restoring investor confidence.
The institution said the new partnership framework aims to expand electricity access to 32 million people, provide broadband connectivity to 58 million Nigerians, improve healthcare and nutrition services for 40 million citizens and assist 9.5 million farmers. It also seeks to strengthen human capital, improve agricultural productivity and expand digital and energy infrastructure.
World Bank Country Director for Nigeria, Mathew Verghis, said the organisation’s focus is to ensure that Nigeria’s recent economic gains translate into improved livelihoods through increased investment and employment opportunities.
“Our new Country Partnership Framework provides the strategy for how the World Bank Group will support Nigeria over the coming years, with a strong focus on helping to create more and better jobs, particularly by enabling private sector-led growth.
“The recent macroeconomic gains have been critical to help stabilise the economy. Translating improved macroeconomic conditions into better living standards will require addressing the structural constraints to spur private sector investment and job creation,” he said.
