LAGOS, July 1 – The World Bank Group has approved a new 2026–2032 Country Partnership Framework (CPF) for Nigeria with a US$1.25 billion financing package aimed at accelerating job creation, supporting private sector-led growth and strengthening the country’s long-term economic resilience.
According to the World Bank, the new partnership strategy seeks to build on Nigeria’s recent macroeconomic reforms, which have contributed to improvements in economic growth, government revenues and foreign exchange reserves. The framework is intended to translate these gains into broader improvements in living standards by addressing structural constraints to inclusive growth.
The financing package will support reforms designed to attract greater private sector investment while expanding access to critical services across the country.
Under the new framework, the World Bank aims to help provide access to electricity for 32 million people, expand broadband connectivity to 58 million people, improve health and nutrition outcomes for 40 million people, and support 9.5 million farmers through enhanced agricultural services and productivity initiatives.
The programme also prioritises reforms to deepen Nigeria’s capital markets, modernise digital sector regulation, expand electricity access, facilitate regional trade, improve access to agricultural inputs and strengthen domestic revenue mobilisation.
According to the World Bank, unlocking private investment will be central to achieving the framework’s objectives, with the institution combining financing, policy support and guarantee instruments to encourage greater private sector participation in key sectors of the economy.
The strategy reflects the World Bank’s continued commitment to supporting Nigeria’s economic transformation by addressing long-standing structural challenges while promoting sustainable growth, job creation and poverty reduction through increased private investment and institutional reforms.
