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The World Bank has approved a $1.25 billion development policy financing (DPF) operation for Nigeria to support reforms aimed at accelerating investment, creating jobs and sustaining economic growth.
The approval forms part of the bank’s new six-year Country Partnership Framework (CPF) for Nigeria covering 2026 to 2032, which is designed to promote private sector-led growth and expand employment opportunities.
In a statement on Wednesday, the World Bank said the financing, under the Nigeria Actions for Investment and Jobs Acceleration (NAIJA) programme, would support reforms in capital markets, digital economy regulation, power sector expansion, trade liberalisation under the Economic Community of West African States (ECOWAS) and the African Continental Free Trade Area (AfCFTA), agricultural inputs, and domestic revenue mobilisation.
The lender said the programme aims to expand energy access to 32 million Nigerians, provide broadband connectivity to 58 million people, improve health and nutrition services for 40 million people, and support 9.5 million farmers.
According to the World Bank, the CPF will guide its engagement with Nigeria over the next six years, with a focus on removing constraints to private investment, strengthening economic resilience and creating more productive jobs.
Mathew Verghis, World Bank country director for Nigeria, said the new framework builds on the country’s recent macroeconomic reforms, which have helped strengthen growth, boost government revenues and improve investor confidence.
He, however, said sustaining those gains would require addressing structural bottlenecks that continue to constrain 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 said the CPF aligns with Nigeria’s development priorities and is intended to support inclusive growth through investments in infrastructure, human capital, digital connectivity and agricultural productivity.
