World Bank approves $1.25 billion reform financing for Nigeria

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The World Bank has approved a $1.25 billion financing package to support economic reforms in Nigeria. The funding aims to boost investment, create jobs and sustain growth.

The money is part of the bank's Country Partnership Framework for 2026 to 2032. It will back reforms in power, digital economy, agriculture, trade and revenue sectors.

The programme is called Nigeria Actions for Investment and Jobs Acceleration, or NAIJA. It will help expand electricity access to about 32 million Nigerians. Broadband connectivity will reach 58 million people. Health and nutrition services will improve for 40 million citizens. About 9.5 million farmers will get support through better agricultural productivity.

The World Bank said the financing will also support Nigeria's regional trade commitments under ECOWAS and the African Continental Free Trade Area. Reforms will target agricultural inputs and stronger domestic revenue collection.

The six-year partnership framework focuses on removing barriers to private investment, improving economic stability and creating more productive jobs.

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