The World Bank has approved a fresh $1.25 billion loan for Nigeria under its Nigeria Actions for Investment and Jobs Acceleration programme.
The global financial institution announced the approval on Wednesday alongside the launch of a new Country Partnership Framework for Nigeria spanning 2026 to 2032.
According to the bank, the newly endorsed strategy aims to guide its support over the next six years, primarily focusing on creating higher-quality jobs at scale by unlocking private sector-led growth and transitioning the country toward a more inclusive economic model.
The latest approval comes amid criticism after reports emerged that the Federal Government was seeking the facility to finance economic reforms, with many Nigerians arguing that previous borrowing had yet to translate into tangible improvements in their daily living standards.
According to the World Bank, the new framework is built on Nigeria’s recent macroeconomic reforms, which it notes have successfully driven economic growth,
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