World Bank Approves $1.25bn Loan for Nigeria's Reforms

The World Bank's board of executive directors approved a $1.25 billion Development Policy Financing (DPF) loan for Nigeria on Wednesday. This loan is intended to support President Bola Ahmed Tinubu's reform agenda, which aims to strengthen Nigeria's economic foundation, improve competitiveness, and stimulate private sector investment to create sustainable jobs.

The approval is part of a new six-year Country Partnership Framework (CPF) for Nigeria, covering the period from 2026 to 2032. The framework is designed to create better job opportunities and unlock private sector-led growth.

Mathew Verghis, the World Bank Country Director for Nigeria, noted that recent macroeconomic reforms have helped stabilize the economy, but deeper structural reforms are still necessary. Dahlia Khalifa, the IFC Division Director for Nigeria, emphasized the importance of attracting investment to improve productivity and determine Nigeria's long-term growth prospects.