New seven-year country partnership framework seeks to mobilise $4.1bn in private capital and support 9.5 million farmers.
The World Bank Group has unveiled an ambitious seven-year plan for Nigeria that seeks to connect 32 million people to electricity, provide 58 million more Nigerians with broadband access and support 9.5 million farmers under a new Country Partnership Framework covering 2026 to 2032.
The framework also aims to mobilise $4.1bn in private capital for infrastructure and agribusiness as the global development institution shifts greater emphasis towards private-sector-led growth, job creation and investments capable of delivering measurable results at scale.
The Acting Country Director of the World Bank, Taimur Samad, presented the new framework on Wednesday in Lagos at the Industrialisation & Competitiveness Forum organised by the Nigerian Economic Summit Group.
According to the World Bank, the new strategy is designed to create “more and better private-sector jobs” by improving Nigeria’s competitiveness, strengthening human capital, building resilience and unlocking greater private investment in infrastructure and productive sectors.
Focus on Electricity, Broadband and Agriculture
The framework places significant emphasis on expanding access to basic infrastructure and supporting sectors with the potential to generate employment and improve productivity.
Its targets include providing 32 million Nigerians with electricity through distributed renewable energy initiatives, while 58 million additional people are expected to gain access to broadband internet.
Another 9.5 million farmers are expected to benefit from interventions aimed at improving agricultural production, value addition and market access.
The fact sheet accompanying the framework stated: “32 million provided with electricity (M300). 58 million more people are using broadband internet (Digital). 9.5 million farmers benefiting from activities that improve production, value-addition, and market linkages (AgriConnect). $4.1bn in private capital mobilised.”
The World Bank said distributed renewable energy, broadband infrastructure, financing for micro, small and medium-sized enterprises and agribusiness would receive expanded support under the new strategy.
Billions in Private Capital Targeted
A central feature of the new framework is the World Bank Group’s intention to leverage its financing to attract substantially more private investment into Nigeria.
Under the competitiveness and growth objective, the institution is targeting $6bn in private capital enabled, alongside a 30 per cent increase in the non-oil revenue-to-GDP ratio.
It also plans to support an additional 250,000 small and medium-sized enterprises in gaining access to financial services.
The World Bank said the strategy reflects a deliberate shift towards interventions that can unlock private investment and create sustainable employment rather than relying solely on public-sector financing.
The framework states: “A focus on jobs aligned with the World Bank Group Job Creation Strategy,” while emphasising that the institution will “double down” on private-sector-led growth and private capital mobilisation.
$750m Renewable Energy Programme
Power remains one of the major areas of intervention under the new framework.
The World Bank has outlined a $750m programme, alongside a $200m facility from the International Finance Corporation, to expand distributed renewable energy and improve electricity access.
The strategy also includes a $500m programme for resilient digital infrastructure and another $500m pipeline programme focused on sustainable agricultural value chains.
The investments are expected to address some of the infrastructure constraints that have historically limited productivity, competitiveness and private-sector investment in Nigeria.
Human Capital Gets Major Attention
Beyond infrastructure and economic growth, the framework sets ambitious targets for health, education and social protection.
The World Bank plans to reach 40 million people through quality health, nutrition and population services.
A further 19.4 million students are expected to benefit from improved education, while the institution is targeting an eight-percentage-point reduction in the proportion of children under five suffering from stunting.
Social protection is another major component, with 41 million additional people targeted to benefit from social safety-net programmes.
The framework also aims to strengthen climate resilience, with 11.7 million people expected to gain enhanced resilience to climate-related risks.
These interventions are intended to support the World Bank’s broader objective of building a more productive, healthier and resilient Nigerian population capable of participating more effectively in economic activity.
Fewer Projects, Bigger Impact
The World Bank said the new framework would concentrate its support on fewer areas where interventions could generate large-scale and measurable outcomes.
The approach builds on changes already taking place in the institution’s Nigeria portfolio.
The presentation noted that the previous Country Partnership Framework provided more than $12bn in support for national programmes, with significant emphasis on state-level and results-based financing.
The World Bank currently has an active $15.9bn portfolio covering 30 projects in Nigeria. About two-thirds of the portfolio is implemented through national programmes at the state level, while half uses results-based financing.
The institution has also increased the average size of its loans, from $415m in 2021 to $580m in 2025, while reducing the number of projects from 36 to 30.
The changes suggest a move towards larger interventions intended to produce broader and more measurable development outcomes.
Closer Collaboration Across World Bank Group
The new framework also provides for closer collaboration among the World Bank, the International Finance Corporation and the Multilateral Investment Guarantee Agency.
Annual business planning will be used to provide greater flexibility in deploying resources and responding to emerging priorities.
The World Bank said it would continue expanding its engagement with state governments while maintaining its focus on resilience, climate adaptation, gender and interventions in conflict-affected areas.
Multiple Pathways to Growth
The framework identifies several pathways through which Nigeria can achieve the targeted outcomes.
They include macroeconomic stability and governance, improvements to the business-enabling environment, early childhood development, social protection, human capital and skills development.
Digital transformation, power and energy access, climate resilience, agriculture and access to finance are also central to the strategy.
Taken together, the priorities reflect the World Bank’s assessment that Nigeria’s development challenges are interconnected, requiring simultaneous progress in infrastructure, human capital, governance and private-sector investment.
The success of the 2026–2032 framework will ultimately depend on how effectively the programmes translate financing into actual electricity connections, wider digital access, stronger agricultural value chains, improved human capital and new private-sector jobs.
For the World Bank, the central objective is to move from fragmented interventions towards larger-scale investments capable of helping Nigeria unlock sustained, private-sector-driven and more inclusive economic growth.