The World Bank Group has launched a new Country Partnership Framework (CPF) for Nigeria covering 2026 to 2032, alongside the approval of a $1.25 billion Nigeria Actions for Investment and Jobs Acceleration (NAIJA) Development Policy Financing (DPF) initiative aimed at accelerating economic growth, attracting private investment and creating jobs.
The new partnership is designed to support Nigeria’s transition to a more inclusive, private sector-driven economy by building on recent macroeconomic reforms that have strengthened economic growth, increased government revenues, boosted foreign reserves and improved investor confidence.
Under the six-year framework, the World Bank will work with Nigeria to unlock private investment and improve critical infrastructure and human capital.
The programme targets expanding electricity access to 32 million Nigerians, providing broadband connectivity to 58 million people, improving healthcare and nutrition services for 40 million citizens, and supporting 9.5 million farmers through increased agricultural productivity and better access to quality inputs.
The World Bank Country Director for Nigeria, Mathew Verghis, said the new framework places job creation at the centre of the Bank’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 have helped stabilise Nigeria’s economy, translating those gains into improved living standards would require tackling structural barriers that limit private investment and employment opportunities.
The newly approved $1.25 billion NAIJA Development Policy Financing will support key government reforms aimed at strengthening Nigeria’s economic competitiveness.
The reforms include deepening capital markets, modernising regulations for the digital economy and e-governance, advancing power sector reforms to expand electricity access, reducing trade barriers in line with ECOWAS and AfCFTA commitments, improving access to quality agricultural seeds, and strengthening domestic revenue mobilisation.
The World Bank said the financing forms part of its broader support package for Nigeria, combining policy reforms with investments in energy, digital infrastructure, agriculture, private sector development and social protection to drive sustainable job creation, economic resilience and poverty reduction.
MIGA Vice President and Chief Financial Officer, Ed Mountfield, said Nigeria’s ongoing reforms are creating fresh opportunities for investors, although challenges remain.
“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 invest with confidence,” he said.
Mountfield added that under the new CPF, the World Bank Group Guarantee Platform, managed by MIGA, would expand support for strategic sectors, including infrastructure and financial services, to unlock economic growth and employment.
Also speaking, IFC Divisional Director for Nigeria, Dahlia Khalifa, said Nigeria’s long-term economic prospects would depend on its ability to attract investment, improve productivity and create private sector jobs.
“Through this Country Partnership Framework, the World Bank Group will work alongside Nigeria to unlock private investment, expand access to infrastructure and essential services, and create the enabling conditions for businesses to innovate and compete. Together, these efforts aim to translate reform momentum into broader economic opportunity and improved livelihoods,” she said.
