The World Bank has unveiled an ambitious six-year development strategy for Nigeria that aims to expand electricity access to 32 million Nigerians by 2032 as part of broader efforts to support economic growth, create jobs and improve living standards.
The target forms part of the World Bank Group’s 2026–2032 Country Partnership Framework (CPF) for Nigeria, which places strong emphasis on private-sector-led growth, infrastructure development and improved access to essential services.
Alongside the new partnership framework, the World Bank has approved a US$1.25 billion financing package intended to support economic reforms and help Nigeria attract more private investment.
The programme is designed to build on recent economic reforms while addressing some of the structural challenges that continue to limit investment, productivity and job creation in the country.
Electricity access is one of the major priorities under the framework. The World Bank’s target of reaching 32 million additional Nigerians is expected to support efforts to expand electrification and improve access to reliable energy.
Reliable electricity remains important to households, businesses and industries, particularly as Nigeria seeks to strengthen its manufacturing and digital sectors and create more employment opportunities.
The World Bank’s broader strategy goes beyond the power sector. Under the framework, the institution also aims to provide broadband connectivity to 58 million people by 2032.
The digital component is intended to support greater access to technology and create an environment in which businesses can expand and compete more effectively.
Healthcare and nutrition have also been included in the programme, with the World Bank targeting improved services for approximately 40 million people.
Agriculture is another major area of focus. The framework aims to support about 9.5 million farmers, with efforts expected to focus on improving agricultural productivity and strengthening access to important inputs and markets.
The World Bank says the partnership framework is centred on creating more and better private-sector jobs. Its four broad outcomes include improving the environment for competitiveness and growth, mobilising private capital for infrastructure and agribusiness, developing a healthier and more productive population, and strengthening resilience.
The US$1.25 billion financing will support reforms in several areas, including capital markets, digital regulation, e-governance, the power sector, regional trade, agriculture and domestic revenue mobilisation.
The World Bank has indicated that attracting private investment will be critical to the success of the programme. The institution believes that greater private-sector participation can help Nigeria expand infrastructure, create employment and improve productivity.
The initiative comes as Nigeria continues to implement economic reforms aimed at strengthening government revenues, improving foreign reserves and creating a more attractive environment for investors.
World Bank officials have said that while recent reforms have produced improvements in some economic indicators, further structural changes are necessary if the benefits are to translate into better living standards for ordinary Nigerians.
The electricity target is therefore part of a much wider development agenda rather than a standalone power-sector initiative.
If achieved, expanding electricity access to 32 million people could have significant implications for households, businesses and communities that currently face challenges with reliable power supply.
Improved electricity access could also support economic activity in areas where businesses have struggled with energy costs and unreliable supply.
The World Bank’s new framework provides a long-term roadmap for its engagement with Nigeria through 2032, with the institution seeking to combine public-sector reforms with private investment and development financing.
For Nigeria, the success of the programme will depend on how effectively the planned reforms and investments are implemented.
By 2032, the World Bank hopes its support will have contributed not only to wider electricity access but also to improved digital connectivity, healthcare, agricultural productivity and job creation across the country.
Source: Thepressradio.com
