World Bank approves $1.25bn loan to Nigeria for reforms

The World Bank has approved a $1.25 billion development loan to Nigeria to support economic reforms aimed at spurring private investment and job creation. The approval was announced on Wednesday, July 1, 2026, alongside the launch of a new six-year Country Partnership Framework for the nation.

The financing, part of the Nigeria Actions for Investment and Jobs Acceleration programme, is intended to back a series of planned reforms. These include expanding capital markets, updating digital economy regulations, accelerating electricity sector reforms, and reducing trade barriers in line with regional and continental agreements. The World Bank stated the strategy is built on Nigeria's recent macroeconomic reforms, which it said have driven economic growth, bolstered external reserves, and improved investor confidence.

World Bank Country Director for Nigeria, Mathew Verghis, emphasized the focus on translating financial stability into tangible human development. He said the new framework provides a strategy for supporting Nigeria with a strong focus on creating more and better jobs, particularly by enabling private sector-led growth. The loan arrives amid domestic scrutiny over...