In a significant boost to Nigeria’s development agenda, the World Bank has approved a $1.08 billion financing package aimed at enhancing education, nutrition, and economic resilience. This funding, spread across three major initiatives, is expected to uplift millions of Nigerians, particularly in underserved communities.
The approved financing includes $500 million for the Nigeria Community Action for Resilience and Economic Stimulus (NG-CARES) program, $80 million for Accelerating Nutrition Results in Nigeria (ANRIN 2.0), and another $500 million for Hope for Quality Basic Education for All (HOPE-EDU). The funds will drive economic empowerment, improve food security, and expand access to quality education, aligning with Nigeria’s broader strategy for inclusive growth.
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The NG-CARES program, initially launched as a response to the COVID-19 pandemic, has evolved into a multi-sectoral platform providing economic relief to vulnerable households. The additional funding will deepen its impact, fostering resilience at the grassroots level by supporting micro and small enterprises, agriculture, and food security initiatives. Over 15 million Nigerians have already benefited from this program, which continues to serve as a buffer against economic shocks, including the removal of fuel subsidies and foreign exchange rate unification.
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Meanwhile, ANRIN 2.0 will enhance nutrition interventions for pregnant women, lactating mothers, adolescent girls, and children under five. This initiative builds on the success of its predecessor, which reached over 13 million children between 2018 and 2024. By focusing on preventive and curative nutrition services, the program aims to combat malnutrition and food insecurity through improved dietary diversity and better access to essential nutrients.
The HOPE-EDU program will tackle Nigeria’s education challenges by improving foundational learning, expanding access to quality basic education, and strengthening education systems. With an anticipated direct impact on 29 million public primary school children, 500,000 teachers, and 65,000 schools, the initiative is positioned as a transformative force in Nigeria’s education sector. Additionally, the program has secured $52.18 million in co-financing from the Global Partnership for Education Fund, ensuring its sustainability.
Dr. Ndiamé Diop, the World Bank Country Director for Nigeria, emphasized the importance of investing in human capital, stating, “These programs will accelerate education quality and provide essential support to vulnerable citizens. The HOPE-EDU initiative will equip Nigeria’s growing youth population with foundational skills necessary for economic growth, while ANRIN will enhance access to nutrition services to mitigate food insecurity.”
In a related development, Nigeria and Japan have joined forces to launch a venture capital initiative aimed at fostering high-growth startups. This strategic move will channel naira-denominated investments into emerging businesses, shielding them from currency risks while providing long-term concessional financing. Minister of Finance Wale Edun confirmed the initiative, highlighting its role in reducing foreign exchange volatility and de-risking private investments.
Further underscoring Nigeria’s economic ambitions, the federal government and the United Nations Industrial Development Organisation (UNIDO) have signed a $175 million Programme for Country Partnership (PCP) agreement. The four-year initiative (2024–2028) will drive industrial development, create jobs, and promote sustainable economic transformation. Minister of Budget and Economic Planning, Senator Abubakar Bagudu, described the partnership as a milestone, noting that 85.7% of the funding will be mobilized by UNIDO, while the Nigerian government will provide counterpart funding.
The government’s broader economic strategy also received a legislative boost with the enactment of the Investment and Securities Act (ISA) 2025. Signed into law by President Bola Tinubu, the legislation aims to facilitate Nigeria’s transition into a $1 trillion economy by 2030. According to Senator Osita Izunaso, Chairman of the Senate Committee on Capital Markets, the new act introduces comprehensive regulations for digital assets and cryptocurrency, bringing them under the purview of the Securities and Exchange Commission (SEC). This move is expected to enhance investor confidence, curb Ponzi schemes, and promote transparency in financial markets.
With these bold initiatives in motion, Nigeria is positioning itself for sustained economic growth, industrial expansion, and improved social welfare. As the country navigates economic challenges, strategic investments in education, healthcare, and entrepreneurship will play a crucial role in shaping its future.
