The World Bank has approved a fresh $1.25 billion loan for Nigeria under its Nigeria Actions for Investment and Jobs Acceleration (NAIJA) programme, reinforcing efforts to stimulate private sector growth and create more employment opportunities across the country.
The funding forms part of the World Bank’s new Country Partnership Framework (CPF) for Nigeria, covering the period from 2026 to 2032. The framework is designed to support job creation by addressing barriers to investment, improving critical infrastructure, and strengthening the business environment.
Announcing the approval on Wednesday, the World Bank said the six-year framework is intended to generate “more and better jobs at scale” by unlocking private sector-led growth.
“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 institution said in a statement.
The bank added that the newly approved Nigeria Actions for Investment and Jobs Acceleration Development Policy Financing operation would support the country’s transition to a more inclusive growth model capable of generating sustainable employment.
According to the World Bank, the programme will support reforms aimed at enhancing Nigeria’s competitiveness, encouraging greater investment, and expanding opportunities for businesses to grow and employ more people.
The planned reforms include deepening capital markets, modernising regulations for the digital economy and e-governance, accelerating electricity sector reforms, reducing trade barriers in line with Nigeria’s regional trade commitments, improving access to high-quality agricultural seeds, and strengthening domestic revenue mobilisation.
The World Bank said these measures are expected to create a more enabling environment for businesses while laying the foundation for long-term job creation and economic resilience.
Speaking on the new framework, World Bank Country Director for Nigeria, Mathew Verghis, said the institution’s priority is to ensure that recent macroeconomic reforms translate into meaningful employment opportunities and improved living standards.
“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,” Verghis said.
“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 added.
Beyond supporting private sector expansion, the World Bank said the framework would invest in strategic sectors expected to strengthen Nigeria’s workforce and enhance productivity.
These investments include expanding electricity access to 32 million Nigerians, providing broadband connectivity for 58 million people, improving health and nutrition services for 40 million citizens, and supporting approximately 9.5 million farmers.
According to the bank, investments in energy, digital infrastructure, agriculture, and human capital development are expected to improve employability, raise productivity, and create the conditions for sustained economic growth.
Also speaking, Divisional Director for Nigeria at the International Finance Corporation, Dahlia Khalifa, said Nigeria’s ongoing economic reforms have enhanced the country’s attractiveness to private investors.
“Nigeria’s long-term growth potential will be shaped by the economy’s ability to attract investment, raise productivity, and unleash private sector job creation, building on the capital of a rapidly growing population,” Khalifa said.
The approval comes amid continuing public debate over Nigeria’s rising external debt, with concerns that previous borrowings have not delivered sufficient improvements in living standards.
However, the World Bank maintained that the latest financing is specifically targeted at reforms designed to stimulate private sector investment, strengthen economic competitiveness, and expand employment opportunities across the country.
