Nigeria has received a two-pronged boost to drive the country’s economic growth.

The World Bank has given the nod to a US$1.25 billion development financing initiative to support reforms that promote investment, competitiveness and inclusive economic growth.

In addition, the bank is backing a new Country Partnership Framework (CPF) for 2026–2032, which outlines a long-term strategy to accelerate private sector-led growth, create more and better jobs, and strengthen economic resilience.

Through the CPF, the World Bank will support Nigeria’s plans to expand access to critical services and infrastructure, including providing access to electricity to 32 million Nigerians, extending broadband connectivity to 58 million people, improving health and nutrition services for 40 million people and supporting 9.5 million farmers .

Meanwhile the US$1.25 billion financing facility – officially called the Nigeria Actions for Investment and Jobs Acceleration Development Policy Financing operation – will support reforms that deepen domestic capital markets; modernise regulations for the digital economy and e-governance; accelerate electrification; lower trade barriers in line with Nigeria’s commitments to the Economic Community of West African States and the African Continental Free Trade Area; improve farmers’ access to quality agricultural seeds; and mobilise domestic revenue mobilisation.

15 July 2026
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