World Bank Set to Approve Nigeria’s $1 Billion Development Loan in December to Boost Jobs and Investment
The World Bank has scheduled December 16, 2025, as the tentative date to approve Nigeria’s $1 billion Development Policy Financing (DPF) under the Nigeria Actions for Investment and Jobs Acceleration programme. The funding aims to strengthen the country’s economic reforms, boost private sector investment, and create more jobs across key industries.
According to a project document released by the global lender, the financial package includes a $500 million International Development Association (IDA) credit and a $500 million International Bank for Reconstruction and Development (IBRD) loan. The programme falls under the World Bank’s Macroeconomics, Trade and Investment practice for the Western and Central Africa region. It will be coordinated through Nigeria’s Federal Ministry of Finance, which has already received approval to proceed with implementation.
Since 2023, Nigeria has embarked on bold reforms such as the removal of the petrol subsidy, unification of exchange rates, and the end of Central Bank deficit financing. These measures, championed by President Bola Tinubu under the Renewed Hope Agenda, have reportedly helped stabilize the economy, reduce fiscal deficits, and restore investor confidence.
Despite these gains, the World Bank noted that over 130 million Nigerians still live in poverty, with economic growth remaining sluggish. The Bank acknowledged Nigeria’s progress but emphasized the need for stronger investments to lift productivity, diversify exports, and promote inclusive development. The proposed DPF will focus on two key pillars: unlocking private sector growth and reducing the cost of doing business.
Under the plan, Nigeria will strengthen access to finance, support the Investment and Securities Act 2025, and advance the National Digital Economy and e-Governance Bill 2025 to promote digital inclusion. The second pillar seeks to lower business and household costs, tackle inflation, and boost export competitiveness—key drivers needed to sustain Nigeria’s growth momentum and job creation efforts.
source: The Guardian