The World Bank has approved a fresh $1.25 billion financing package for Nigeria to support the country's ongoing economic reforms, stimulate private sector investment and accelerate job creation.
According to the World Bank, the funding is designed to strengthen Nigeria's economic resilience, improve the business environment and promote inclusive growth through reforms that encourage investment and expand employment opportunities.
The financing is expected to support key government initiatives aimed at stabilising the economy, enhancing productivity and fostering sustainable development across critical sectors.
The World Bank noted that encouraging private investment remains essential to driving long-term economic growth, reducing poverty and creating jobs, particularly for Nigeria's growing youth population.
The approval comes as the Federal Government continues to implement reforms targeted at improving fiscal sustainability, attracting investors and strengthening the country's overall economic performance.
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