The World Bank Group has approved a new six-year Country Partnership Framework (CPF) for Nigeria and a $1.25 billion development policy financing package aimed at supporting economic reforms, boosting private sector-led growth and creating jobs….
The World Bank Group has approved a new six-year Country Partnership Framework (CPF) for Nigeria and a $1.25 billion development policy financing package aimed at supporting economic reforms, boosting private sector-led growth and creating jobs.
The new Country Partnership Framework, which will run from 2026 to 2032, outlines the World Bank’s strategy to support Nigeria in expanding employment opportunities by attracting private investment and strengthening key sectors of the economy.
In a statement via their website, on Thursday, the World Bank said the framework builds on recent macroeconomic reforms that have resulted in stronger economic growth, higher government revenues, improved foreign reserves and increased investor confidence.
According to the institution, the CPF will focus on mobilising private investment alongside public resources to drive sustainable growth while improving access to critical infrastructure and social services.
Under the framework, the World Bank targets 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 9.5 million farmers through increased agricultural productivity.
The bank said the initiative would also strengthen human capital development, improve energy access and accelerate digital infrastructure development across the country.
As part of the broader support package, the World Bank also approved the Nigeria Actions for Investment and Jobs Acceleration (NAIJA) Development Policy Financing operation worth $1.25 billion.
The financing is designed to support reforms aimed at strengthening Nigeria’s competitiveness and laying the foundation for long-term economic growth.
The reforms include deepening capital markets, modernising regulations governing the digital economy and e-governance, advancing power sector reforms to improve electricity access, reducing trade barriers in line with Nigeria’s commitments under ECOWAS and the African Continental Free Trade Area (AfCFTA), improving farmers’ access to quality seeds and enhancing domestic revenue mobilisation.
World Bank Country Director for Nigeria, Mathew Verghis, said the new framework places job creation at the centre of the institution’s support for Nigeria.
“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 noted that while recent economic reforms had helped stabilise the economy, more efforts were needed to improve citizens’ living standards.
“The recent macroeconomic gains have been critical to help stabilize 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.
The World Bank said the NAIJA financing forms part of its wider support package for Nigeria, combining policy reforms with investments in energy, agriculture, digital infrastructure, private sector development and social protection to promote economic resilience and reduce poverty.
MIGA Vice President and Chief Financial Officer, Ed Mountfield, said the agency would help reduce investment risks and encourage greater private sector participation in critical sectors.
“Nigeria’s reform progress is creating important opportunities for private investment, but risks remain for investors. MIGA’s role is to help manage these risks—through guarantees and political risk insurance—so that investors can step in with confidence,” Mountfield said.
He added that under the new partnership framework, the World Bank Group Guarantee Platform would expand support for priority sectors, including infrastructure and financial services, to stimulate job creation and economic growth.
Also commenting, IFC Divisional Director for Nigeria, Dahlia Khalifa, said attracting private investment would be crucial to Nigeria’s long-term economic prospects.
“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.
She added that the World Bank Group would work with Nigeria to unlock private investment, improve infrastructure and essential services, and create an enabling environment for businesses to grow.
“Together, these efforts aim to translate reform momentum into broader economic opportunity and improved livelihoods,” she said.
