The World Bank has approved a $1.25 billion Development Policy Financing (DPF) loan for Nigeria to support economic reforms aimed at accelerating private sector-led growth, creating jobs and strengthening the country’s business environment.
This is equivalent of N2.1 trillion at an exchange rate of N1,400/$1. The approval, announced on Wednesday, came despite public criticism over Nigeria’s rising debt profile and growing dependence on external borrowing.
The financing is part of the Nigeria Actions for Investment and Jobs Acceleration (NAIJA) Development Policy Financing operation and coincides with the World Bank’s adoption of a new six-year Country Partnership Framework (CPF) for Nigeria covering 2026 to 2032.
According to the global lender, the programme is designed to support Nigeria’s transition to a more inclusive and resilient economy by implementing reforms that encourage investment, improve competitiveness and expand employment opportunities.
“The World Bank Group has endorsed a new Country Partnership Framework (CPF) for Nigeria spanning 2026–2032, setting out a strategy to create more and better jobs at scale by unlocking private sector-led growth,” the bank said in a statement.
