𝐖𝐨𝐫𝐥𝐝 𝐁𝐚𝐧𝐤 𝐀𝐩𝐩𝐫𝐨𝐯𝐞𝐬 $1.25 𝐁𝐢𝐥𝐥𝐢𝐨𝐧 𝐅𝐢𝐧𝐚𝐧𝐜𝐢𝐧𝐠, 𝐔𝐧𝐯𝐞𝐢𝐥𝐬 𝐒𝐞𝐯𝐞𝐧-𝐘𝐞𝐚𝐫 𝐍𝐢𝐠𝐞𝐫𝐢𝐚 𝐆𝐫𝐨𝐰𝐭𝐡 𝐚𝐧𝐝 𝐉𝐨𝐛𝐬 𝐏𝐚𝐫𝐭𝐧𝐞𝐫𝐬𝐡𝐢𝐩

The World Bank Group has approved a new seven-year Country Partnership Framework (CPF) for Nigeria, alongside a $1.25 billion financing package aimed at accelerating private sector investment, creating employment opportunities, and supporting the country's ongoing economic reform agenda.

The new framework, which covers the period 2026 to 2032, is designed to build on Nigeria's recent macroeconomic reforms by addressing long-standing structural challenges that have limited private sector growth, productivity, and inclusive economic development. According to the World Bank, the initiative seeks to transform recent economic gains into tangible improvements in the lives of Nigerians through expanded investment, improved infrastructure, and stronger human capital development.

As part of the package, the World Bank also approved the Nigeria Actions for Investment and Jobs Acceleration (NAIJA) Development Policy Financing (DPF) operation. The programme is expected to strengthen the country's investment climate, improve competitiveness, and promote sustainable economic growth by supporting reforms that encourage private enterprise and job creation.

The institution noted that recent policy reforms have contributed to stronger economic growth, improved government revenue, increased foreign exchange reserves, and renewed investor confidence. However, it emphasized that creating sufficient employment opportunities for Nigeria's rapidly growing population remains one of the country's most urgent development priorities.

Under the new partnership framework, the World Bank plans to support initiatives that will expand electricity access to 32 million Nigerians, provide broadband connectivity to 58 million people, improve health and nutrition services for 40 million citizens, and enhance agricultural productivity for approximately 9.5 million farmers. The programme will also focus on strengthening education, healthcare, digital infrastructure, and energy access to stimulate innovation, attract investment, and improve productivity across key sectors of the economy.

Speaking on the initiative, the World Bank Country Director for Nigeria, Mathew Verghis, said the new partnership places job creation at the centre of the institution's engagement with Nigeria. He explained that while recent macroeconomic reforms have helped stabilise the economy, sustained progress will depend on removing structural barriers that hinder investment and limit inclusive growth.

Meanwhile, officials of the World Bank's Sustainable Power and Irrigation for Nigeria (SPIN) Project, led by Task Team Leader Zack Zieglhifer and Co-Task Team Leader Engr. Chinedu Umolu, disclosed that preparations are underway for Nigeria's participation in the upcoming Africa Water Forum. The forum will bring together policymakers, development partners, and private sector stakeholders to explore innovative financing models and practical solutions for improving water security across Africa.

ℙℝ𝕆𝔾ℝ𝔼𝕊𝕊 𝕍𝕀𝔼𝕎𝕊 𝕀ℕ𝕊𝕀𝔾ℍ𝕋𝕊

The World Bank's latest partnership framework reflects growing international confidence in Nigeria's ongoing economic reforms while highlighting the importance of translating macroeconomic stability into meaningful opportunities for citizens. Investment in infrastructure, digital connectivity, agriculture, healthcare, and human capital has the potential to stimulate private enterprise, increase productivity, and expand employment.

The long-term success of the programme, however, will depend on effective implementation, transparency, policy consistency, and strong collaboration between government, development partners, and the private sector to ensure that the projected benefits reach businesses, farmers, workers, and communities across the country.