The World Bank has approved a fresh $1.25 billion loan for Nigeria under its Nigeria Actions for Investment and Jobs Acceleration (NAIJA) programme, despite growing public concerns over the country’s rising debt profile.
The approval was announced on Wednesday alongside the launch of the World Bank’s new Country Partnership Framework for Nigeria covering 2026 to 2032, aimed at boosting private sector-led growth and creating more jobs.
According to the bank, the financing will support reforms to deepen capital markets, modernise the digital economy, expand electricity access, strengthen agriculture, improve revenue generation and reduce trade barriers under ECOWAS and the African Continental Free Trade Area (AfCFTA).
