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The World Bank has approved a fresh $1.25 billion loan for Nigeria under its Nigeria Actions for Investment and Jobs Acceleration programme, the bank announced on Wednesday alongside a new Country Partnership Framework covering 2026 to 2032.
The approval comes in response to public concerns over Nigeria’s rising debt burden. As of December 31, 2025, Nigeria’s debt to the World Bank stood at $19.89 billion, up 11.7 percent from $17.81 billion at the end of 2024, according to the Debt Management Office.
The World Bank now accounts for 38.36 percent of Nigeria’s total external debt stock of $51.86 billion.
The new framework aims to create jobs by unlocking private sector-led growth, the bank said in a statement.
“The World Bank Group has endorsed a new Country Partnership Framework for Nigeria spanning 2026–2032, setting out a strategy to create more and better jobs at scale by unlocking private sector-led growth,” the statement read.
The bank said it “also approved the Nigeria Actions for Investment and Jobs Acceleration Development Policy Financing operation, which supports Nigeria’s transition toward a more inclusive growth model that spurs growth and creates jobs.”
The World Bank claims that Nigeria’s recent macroeconomic reforms, which have boosted economic growth, government revenue, external reserves, and investor confidence, are the foundation of the new Country Partnership Framework.
The framework aims to increase access to electricity for 32 million Nigerians, provide broadband connectivity to 58 million people, enhance health and nutrition services for 40 million citizens, and support 9.5 million farmers.
According to Mathew Verghis, the World Bank’s Country Director for Nigeria, the organisation will focus on helping Nigeria translate recent macroeconomic gains into higher living standards.
“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.
“The recent macroeconomic gains have been critical to help stabilise 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 bank said the $1.25 billion Development Policy Financing operation would support reforms to strengthen Nigeria’s competitiveness and create conditions for sustainable growth.
According to the statement, the reforms include deepening capital markets, modernising the regulatory framework for the digital economy and e-governance, advancing power sector reforms to accelerate electrification, lowering trade barriers in line with Nigeria’s ECOWAS and African Continental Free Trade Area commitments, improving access to quality agricultural seeds and strengthening domestic revenue mobilisation.
“The NAIJA DPF operation, which amounts to $1.25bn, supports a set of Government reforms to strengthen the foundations for growth and competitiveness,” the statement added.
“These include deepening capital markets, modernising the regulatory framework for the digital economy and e-governance, advancing power sector reforms to accelerate electrification, lowering trade barriers in line with Nigeria’s ECOWAS and AfCFTA commitments to help ease price pressures, improving access to quality agricultural seeds, and strengthening domestic revenue mobilisation.”
