Economy
World Bank backs Nigeria 2026–2032 plan with $1.25bn to spur jobs, private investment
World Bank Group has approved a new long-term partnership strategy for Nigeria alongside $1.25 billion in financing, aiming to drive job creation and economic growth by unlocking private sector investment and expanding access to energy, digital, and agricultural services.
The World Bank Group approved a 2026–2032 Country Partnership Framework for Nigeria and $1.25 billion financing package aimed at driving job creation through private sector–led growth.
The strategy builds on recent reforms that have lifted growth, revenues and reserves, and aims to translate gains into broader living standards.
Targets expanded access: energy for 32 million people, broadband for 58 million, better health and nutrition for 40 million and support for 9.5 million farmers.
Financing backs reforms to deepen capital markets, modernise digital regulation, expand electrification, ease regional trade, improve farm inputs and boost domestic revenues.
Officials say unlocking private investment and tackling structural constraints – supported by guarantees and policy reforms – is key to sustaining growth, resilience and poverty reduction.
-
Economy2 days agoNigeria Sovereign Investment Authority announces winners of $275,000 prize for innovation
-
Finance2 days agoAirtel Money reports 25% growth in first-half revenue in maiden results
-
News2 days agoEFCC arrests 14 Chinese nationals in Nigeria for operating illegal lithium processing plants
-
Maritime2 days agoNIMASA, ITF signs MOU on Seafarer wellbeing, MoU First in Africa—ITF
-
Oil and Gas2 days agoHoneywell Technologies launches new AI platform at Dangote’s Nigeria refinery
-
Economy2 days agoFG targets single-digit inflation by end-2027 to unlock cheaper borrowing— Oyedele
-
Oil and Gas23 hours agoBayelsa suspends oil firm’s land acquisition over fatal community dispute
-
News23 hours agoTop 20 Ecobank’s InnovateX finalists emerge for ₦20m prize money