The World Bank has approved a $1.25 billion Development Policy Financing loan for Nigeria and launched a new Country Partnership Framework (CPF) covering 2026 to 2032, aimed at driving private sector-led growth, job creation and poverty reduction.

The Nigeria Actions for Investment and Jobs Acceleration (NAIJA) programme will support reforms to strengthen the economy, including improvements in the power sector, digital infrastructure, capital markets, agriculture, trade and domestic revenue mobilisation.

Under the six-year framework, the World Bank plans to expand electricity access to 32 million Nigerians, provide broadband connectivity to 58 million people, improve health and nutrition services for 40 million citizens, and support 9.5 million farmers through increased agricultural productivity.

World Bank Country Director for Nigeria, Mathew Verghis, said recent macroeconomic reforms had stabilised the economy but stressed that sustained improvements in living standards would depend on tackling structural constraints and boosting private sector investment.