The World Bank has greenlit a $1.25 billion financial package for Nigeria, designed to assist with economic restructuring, encourage private investment, and foster employment opportunities. This initiative, titled the Nigeria Actions for Investment and Jobs Acceleration (NAIJA) program, serves as a cornerstone of the bank’s Country Partnership Framework (CPF) for Nigeria spanning 2026 to 2032.
Officials stated that the funding targets specific policy improvements, including capital market growth, digital regulation, power sector development, and trade facilitation under regional and continental agreements. By supporting these sectors, the bank aims to boost domestic revenue and remove obstacles currently hindering competitiveness.
The project sets ambitious targets, aiming to connect 32 million people to electricity, provide broadband access for 58 million, and reach 40 million citizens with improved health services. Furthermore, nearly 10 million farmers are expected to benefit from the support for agricultural systems. Mathew Verghis, the World Bank Country Director for Nigeria, noted that while recent fiscal reforms have bolstered investor confidence, maintaining this momentum is vital for long-term prosperity.
