The World Bank has approved a $1.25 billion Development Policy Financing (DPF) for Nigeria under the Nigeria Actions for Investment and Jobs Acceleration programme, despite widespread public criticism over the country’s rising debt burden. The approval was announced alongside the bank’s new 2026–2032 Country Partnership Framework for Nigeria.
According to the World Bank, the new financing is intended to support Nigeria’s economic reforms by promoting private sector-led growth, job creation, and a more inclusive economy. The broader six-year partnership framework will focus on expanding electricity access, improving digital connectivity, strengthening agriculture, enhancing healthcare and nutrition services, and boosting human capital development.
The approval comes weeks after many Nigerians criticised the Federal Government’s decision to seek another World Bank loan, arguing that the country’s increasing external debt has not translated into improved living standards. Critics have urged the government to reduce borrowing and focus on improving revenue generation and efficient use of public funds.
Responding to the concerns, the World Bank said Nigeria’s recent macroeconomic reforms have helped improve economic growth, government revenue, foreign reserves and investor confidence. World Bank Country Director for Nigeria, Mathew Verghis, said the institution’s priority is to help Nigeria convert these gains into better jobs and improved living standards by addressing structural constraints that limit private investment.
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