The World Bank has targeted connecting 32 million Nigerians to electricity and providing 58 million more people with access to broadband internet under its new Country Partnership Framework for Nigeria covering 2026 to 2032.

🇳🇬 Here's What Happened

The framework also targets 9.5 million farmers to benefit from activities designed to improve agricultural production, value addition and market linkages, while the World Bank Group plans to mobilise $4.1bn in private capital for infrastructure and agribusiness.

The Acting Country Director, World Bank, Taimur Samad, presented the CPF on Wednesday in Lagos during the Industrialisation & Competitiveness Forum organised by the Nigerian Economic Summit Group.

The new framework seeks to create more and better private-sector jobs by improving the environment for competitiveness and growth, unlocking a more productive and healthier population, building resilience of people and ecosystems, and maximising private capital for infrastructure and agribusiness.

📌 Key Details

The World Bank said the CPF will focus on job creation, private-sector-led growth and the mobilisation of private capital, with programmes covering distributed renewable energy, broadband infrastructure, access to finance for micro, small and medium enterprises and agribusiness.

The fact sheet presented as part of the framework states, “32 million provided with electricity (M300). 58 million more people are using broadband internet (Digital). 9.5 million farmers benefiting from activities that improve production, value-addition, and market linkages (AgriConnect). $4.1bn in private capital mobilised.”

The framework sets a broader goal of creating more and better private-sector jobs and identifies improved competitiveness and growth as one of its key outcomes.

Under the competitiveness and growth objective, the World Bank targets a 30 per cent increase in the non-oil revenue-to-GDP ratio, $6bn in private capital enabled and an additional 250,000 SMEs using financial services.

For human capital, the framework targets 40 million beneficiaries of quality health, nutrition and population services, 19.4 million students supported with better education and an eight-percentage-point reduction in the proportion of children under five suffering from stunting.

It also targets 41 million additional beneficiaries of social safety-net programmes and 11.7 million people with enhanced resilience to climate risks.

📰 Source: Punch Nigeria