The World Bank has unveiled an ambitious plan to connect 32 million Nigerians to electricity by 2032, as part of a new six-year development framework designed to boost jobs, private-sector growth and economic opportunities across the country. The initiative is contained in the World Bank Group’s Country Partnership Framework for Nigeria covering 2026 to 2032.
Beyond electricity, the framework aims to give 58 million additional Nigerians access to broadband internet and support 9.5 million farmers through programmes focused on improving agricultural production, adding value to farm products and connecting farmers to better markets. The World Bank also plans to mobilise $4.1bn in private capital for infrastructure and agribusiness, signalling a stronger push for private-sector participation in Nigeria’s development.
The Acting Country Director of the World Bank, Taimur Samad, presented the framework in Lagos on Wednesday at the Industrialisation & Competitiveness Forum organised by the Nigerian Economic Summit Group. According to the framework, the institution wants to focus its resources on areas capable of delivering large-scale and measurable results, including distributed renewable energy, broadband infrastructure, access to finance for micro, small and medium-sized enterprises, and sustainable agriculture.
Electricity access is expected to receive significant backing, with a $750m World Bank programme and a $200m IFC facility earmarked for distributed renewable energy. The framework also includes a $500m programme for resilient digital infrastructure and another $500m pipeline programme targeting sustainable agricultural value chains. The broader plan aims to improve Nigeria’s competitiveness, increase non-oil revenue relative to GDP by 30 per cent and enable more private investment in the economy.
The World Bank’s targets extend beyond infrastructure and business, with plans to support 40 million people through health, nutrition and population services, improve education for 19.4 million students and expand social safety-net programmes to 41 million additional beneficiaries. The institution said the new framework would build on its existing engagement with Nigeria, where it currently has a $15.9bn portfolio covering 30 projects. With electricity, digital access, agriculture, jobs and human capital all forming part of the strategy, the World Bank is betting on a broader development approach to help Nigeria tackle some of its most persistent economic and social challenges by 2032.
source: punch
