The World Bank has approved three operations in Nigeria, totaling $1.08 billion in concessional financing, to improve education, enhance household resilience, and boost nutrition for vulnerable groups. The facility includes $500 million for the Nigeria Community Action for Resilience and Economic Stimulus (NG-CARES), $80 million for Accelerating Nutrition Results in Nigeria (ANRIN 2.0), and $500 million for the Hope for Quality Basic Education for All (HOPE-EDU) program.
Meanwhile, Nigeria and Japan have launched a strategic venture capital initiative to channel naira-denominated investments into high-growth startups, shielding them from currency risks. The initiative, backed by the Japan International Cooperation Agency, aims to unlock long-term concessional financing.
In another development, the federal government and the United Nations Industrial Development Organisation signed a $175 million Programme for Country Partnership (PCP) agreement to support industrial growth, job creation, and economic transformation. The four-year initiative will enhance Nigeria’s industrial capacity, promote innovation, and encourage sustainable practices.