The World Bank has set a target to connect 32 million Nigerians to electricity by 2032 as part of its new Country Partnership Framework covering the 2026–2032 period.
The plan also seeks to expand broadband access to an additional 58 million Nigerians, support 9.5 million farmers and attract $4.1bn in private investment for infrastructure and agribusiness.
The World Bank’s Acting Country Director for Nigeria, Taimur Samad, unveiled the framework on Wednesday in Lagos at the Industrialisation and Competitiveness Forum organised by the Nigerian Economic Summit Group.
The new partnership strategy is centred on job creation, private-sector growth, improved competitiveness and greater mobilisation of private capital. Key areas of intervention include renewable energy, digital infrastructure, financing for micro, small and medium-sized enterprises, and agricultural value chains.
Under the electricity component, the World Bank plans to support distributed renewable energy through a $750m programme, complemented by a $200m facility from the International Finance Corporation.
The digital infrastructure programme is expected to receive $500m, while another $500m pipeline initiative will support sustainable agricultural value chains.
Beyond infrastructure, the framework sets targets for human development. The World Bank aims to reach 40 million people through improved health, nutrition and population services, while 19.4 million students are expected to benefit from education interventions.
The institution also plans to expand social protection programmes to 41 million additional beneficiaries and strengthen the climate resilience of 11.7 million people.
On the economic front, the World Bank is targeting a 30 per cent increase in Nigeria’s non-oil revenue-to-GDP ratio, $6bn in private capital enabled and 250,000 additional small and medium-sized businesses gaining access to financial services.
The bank said the new framework represents a more focused approach, with resources concentrated on programmes capable of delivering measurable results at scale.
It will also deepen cooperation among the World Bank, IFC and the Multilateral Investment Guarantee Agency to increase private-sector participation in Nigeria’s development.
The new strategy builds on the bank’s previous partnership with Nigeria, which provided more than $12bn for national development programmes. The World Bank currently has a $15.9bn portfolio covering 30 active projects in the country.
The framework identifies economic stability, governance, business reforms, human capital, digital transformation, energy access, climate resilience, agriculture and access to finance as key areas through which the World Bank intends to achieve its 2032 targets.
