Reported by: Ijeoma G | Edited by: Henry Owen | Stone Reporters News
The World Bank has scheduled December 16 as a tentative date to review Nigeria’s request for a $1 billion development policy financing loan under the “Nigeria Actions for Investment and Jobs Acceleration (P512892)” initiative.
The proposed loan aims to support economic reforms, create jobs, and boost private investment in the country. The $1 billion facility is divided equally between a $500 million IDA credit and a $500 million IBRD loan, and it will be implemented through the Federal Ministry of Finance.
Structured around two primary pillars — unlocking private sector growth and lowering the cost of doing business — the programme includes initiatives such as expanding access to credit, supporting digital inclusion, strengthening capital markets, easing inflation, promoting export diversification, and enhancing agriculture.
The initiative also backs key legislative and regulatory frameworks, including the Investment and Securities Act 2025, the National Digital Economy and E-Governance Bill 2025, credit enhancement facilities, and the CBN rulebook for microfinance and non-bank financial institutions.
Further measures aim to simplify trade barriers, implement AfCFTA concessions, and improve seed systems for key crops, all expected to boost productivity, attract private investment, and enhance food security.
This loan forms part of a broader FY2026 development package, which includes FINCLUDE for MSME financing, BRIDGE for digital infrastructure, and AGROW for agriculture value chain growth.
As Nigeria’s largest creditor, the World Bank currently holds $19.39 billion of the country’s $46.98 billion external debt, underlining its critical role in supporting Nigeria’s development and economic reforms.
By Stone Reporters News
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