The World Bank has approved a $1.25 billion loan for Nigeria under the Nigeria Actions for Investment and Jobs Acceleration (NAIJA) programme. The funding will support economic reforms, create jobs, and attract private investment. However, many Nigerians have raised concerns about the country’s growing debt.
The loan forms part of the World Bank’s 2026–2032 Country Partnership Framework. The initiative aims to strengthen Nigeria’s economy and promote long-term growth.
The World Bank says the programme will improve the business environment and encourage more private investment. It also hopes the reforms will create jobs and expand economic opportunities across the country.
The funding will support reforms in several important sectors. These include electricity, the digital economy, capital markets, agriculture, trade, and revenue generation.
According to the World Bank, these reforms will improve Nigeria’s competitiveness. They will also help the country achieve sustainable economic growth.
The World Bank has set several targets under the new programme. It plans to provide electricity access to 32 million Nigerians. It also aims to expand broadband services to 58 million people.
In addition, the programme will improve healthcare and nutrition services for 40 million citizens. It will also support 9.5 million farmers to increase agricultural productivity and strengthen food security.
Despite these plans, many Nigerians remain worried about the country’s increasing debt. Critics argue that previous loans have not led to significant improvements in living standards. They have called for greater transparency and accountability in the use of borrowed funds.
The latest approval has renewed public debate over Nigeria’s borrowing strategy. Many citizens want to see clear results from the new funding.
Official figures show Nigeria owed the World Bank $19.89 billion as of December 2025. The figure stood at $17.81 billion a year earlier.
The World Bank now accounts for 38.36 percent of Nigeria’s total external debt. This makes it the country’s largest external creditor.
The World Bank says the loan will speed up economic reforms, improve infrastructure, and encourage private-sector investment. It also expects the programme to create more jobs and support long-term economic growth.
Many Nigerians will now watch closely to see how the government uses the funds. They also expect the reforms to deliver real improvements in jobs, infrastructure, and living conditions.
