World Bank and EU Pledge Billions in Nigeria Investments

The World Bank Group and European development finance institutions have launched a series of massive investment initiatives to stimulate Nigeria's economy. The World Bank approved a $1.25 billion loan under the Nigeria Actions for Investment and Jobs Acceleration (NAIJA) program and established a Country Partnership Framework for 2026–2032. This strategy targets expanding electricity access to 32 million people, broadband to 58 million, and supporting 9.5 million farmers by removing structural barriers to private investment.

Simultaneously, European institutions announced expanded funding during the 10th Nigeria-European Union Business Forum in Lagos. The European Investment Bank disclosed over €500 million in financing for public and private sector operations, including healthcare manufacturing and transport. Additionally, FMO and the European Development Finance Institutions Management Company launched a €20 million window to support SMEs in agribusiness and rural electrification.

Nigerian officials, including Minister Doris Uzoka-Anite and Minister Joseph Utsev, stated these facilities are integral to President Bola Tinubu's Renewed Hope National Development Plan. They noted that the funding reflects international confidence in recent reforms, such as foreign exchange unification and fuel subsidy removal. However, the World Bank loan comes amid public concern over Nigeria's rising external debt, which reached $19.89 billion owed to the bank by the end of 2025.