The World Bank has approved a fresh $1.25 billion loan for Nigeria under its Nigeria Actions for Investment and Jobs Acceleration programme, as part of efforts to stimulate private sector growth and create more employment opportunities.
The approval was announced on Wednesday alongside the launch of the World Bank’s new Country Partnership Framework (CPF) for Nigeria, which will guide the institution’s engagement with the country from 2026 to 2032.
According to the global financial institution, the six-year strategy is designed to support Nigeria’s economic transformation by promoting private sector-led growth, increasing investment, and generating higher-quality jobs.
The announcement comes amid public criticism over the federal government’s continued borrowing, with many Nigerians questioning the impact of previous loans on living standards and economic welfare.
Despite the concerns, the World Bank stated that the new framework builds on Nigeria’s recent macroeconomic reforms, which it said have contributed to stronger economic growth, increased external reserves, and improved investor confidence.
In a statement, the bank said:
“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.”
World Bank Country Director for Nigeria, Mathew Verghis, said the institution’s focus is to ensure that recent macroeconomic gains translate into meaningful improvements in the lives of Nigerians.
“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.
He added that while Nigeria’s recent economic reforms have helped stabilize the economy, achieving broad-based improvements in living standards will require tackling structural challenges that hinder private sector investment and job creation.
