World Bank backs Nigeria 2026–2032 plan with $1.25 billion to spur jobs, private investment

The World Bank Group has approved a new long-term partnership strategy for ​Nigeria alongside $1.25 billion in financing, aiming ‌to drive job creation and economic growth by unlocking private sector investment and expanding ​access to energy, digital, and agricultural ​services.

The World Bank Group approved a ⁠2026–2032 Country Partnership Framework for Nigeria ​and $1.25 billion financing package aimed at driving ​job creation through private sector–led growth.

The strategy builds on recent reforms that have lifted growth, revenues ​and reserves, and aims to translate ​gains into broader living standards.

Targets expanded access: energy ‌for ⁠32 million people, broadband for 58 million, better health and nutrition for 40 million and support for 9.5 million farmers.

Financing ​backs reforms ​to ⁠deepen capital markets, modernise digital regulation, expand electrification, ease regional ​trade, improve farm inputs and boost ​domestic ⁠revenues.

Officials say unlocking private investment and tackling structural constraints - supported by guarantees and ⁠policy ​reforms - is key to ​sustaining growth, resilience and poverty reduction.

By MacDonald Dzirutwe, Reuters