BUSINESS
What to Know about the $1.25bn World Bank New Financing Partnership Framework For Nigeria
The World Bank Group has announced the approval of a new six-year Country Partnership Framework for Nigeria from 2026 to 2032, designed to scale job creation through private sector-led growth.
Following this development, the Bank also approved a 1.25 billion dollar Development Policy Financing operation under the Nigeria Actions for Investment and Jobs Acceleration (NAIJA) programme to support government reforms in capital markets, digital economy regulation, power sector expansion, trade liberalisation under ECOWAS and AfCFTA, agricultural inputs, and domestic revenue collection.
The World Bank revead that the plan is to strengthen energy access for 32 million Nigerians, broadband for 58 million, to improve health and nutrition services for 40 million people, and support for 9.5 million farmers.
NATNetwork report that Mathew Verghis, World Bank Nigeria Director, affirms that the framework builds on recent macroeconomic gains including stronger growth, higher revenues, and improved investor confidence but stressed that translating these gains into better living standards will require tackling structural barriers to private investment.
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