The World Bank has signed off on a seven-year loan worth $1.25 billion for Nigeria, with the goal of speeding up private sector investment, generating employment, and easing the cost of living by reducing obstacles to cross-border trade.
The money will be channeled through the Nigeria Actions for Investment and Jobs Acceleration program, known as NAIJA, which is part of the World Bank’s larger Country Partnership Framework covering the years 2026 through 2032.
The program is built around a set of government-backed reforms targeting key sectors including infrastructure, agriculture, healthcare, trade, and fiscal management.
Among its most ambitious targets, the initiative aims to bring electricity access to 32 million Nigerians. It also seeks to expand internet access to 58 million people, provide support to 9.5 million farmers, and improve healthcare and nutrition services for 40 million residents.
The loan is also intended to make it easier for businesses to operate and for goods to move across borders, with the ultimate aim of growing the private sector and putting more people to work.
A portion of the funds comes with strings attached. States will only qualify for performance-based grants if they meet specific budget transparency requirements, tying some of the money directly to accountability standards.
This loan represents one piece of the World Bank’s long-term strategy with Nigeria, which pairs financial investment with governance improvements and runs through 2032. The approval arrives as Nigerian officials continue pushing forward with economic reforms meant to attract investment and stimulate growth.
Not everyone is on board with the deal. Some members of the public and civil society groups have voiced concern over Nigeria’s expanding external debt load and its ongoing dependence on borrowing from foreign sources.
Those who back the program counter that putting money into electricity, digital infrastructure, farming, and healthcare is meant to raise living standards and set Nigeria up for stronger economic performance over the long haul.
Beyond job creation, the NAIJA program is also designed to help bring down inflation by lowering regional trade barriers and creating a more favorable environment for private investment — all under the umbrella of the seven-year World Bank financing arrangement and the broader 2026-2032 Country Partnership Framework.
