By Danladi Ahmed
The Tinubu Media Support Group (TMSG) has described the new 2026-2032 World Bank Country Partnership Framework for Nigeria as a major vote of confidence in the ongoing reforms of the President Bola Tinubu administration.
In a statement by its Chairman Emeka Nwankpa and Secretary Dapo Okubanjo, TMSG noted that it was interesting that the new six-year partnership, alongside a $1.25 billion financing, is focused on creating jobs by unlocking private sector-led growth.
It said: “The World Bank’s decision to endorse a new long-term partnership with Nigeria is clearly a vote of confidence in the economic policies of the President Bola Tinubu administration.
“This is obvious in the wording of a statement announcing the 6-year partnership where the Bank emphasised that it was aimed at building on Nigeria’s recent macroeconomic reforms with a view to assisting the country convert them to improved standards of living.
“For the avoidance of doubt, the World Bank acknowledged that the Tinubu reforms have resulted ‘in stronger economic growth, higher government revenues, increased external reserves and improved investor confidence.’
“It is gratifying that the Bank’s Country Director for Nigeria, Mathew Verghis, said the framework, amongst other goals, is aimed at expanding electricity access to 32 million Nigerians, providing broadband connectivity to 58 million people, improving health and nutrition services for 40 million citizens and supporting 9.5 million farmers.
“We are also aware that the partnership framework seeks to strengthen human capital, boost agricultural productivity and expand access to energy and digital infrastructure. These are areas where millions of Nigerians are engaged, so it is safe to say that the next six years would be a good time for the private sector to thrive.
“And to underline that the programme was Nigeria-specific, the World Bank Group creatively and deliberately coined an acronym ‘naija’ by framing the 6-year partnership framework as ‘Nigeria Actions for Investment and Jobs Acceleration (NAIJA) development financing policy operations.
“We also need to add that the fresh $1.25bn loan for the country is to be directly deployed to support reforms designed to strengthen the foundations for economic growth, improve competitiveness and stimulate private sector investment.
“The fact that the bank deemed it fit to approve the loan despite misgivings from a section of the public shows that it is satisfied that the country met the necessary benchmarks.”
The new Partnership Framework with Nigeria is coming a few weeks after the World Bank commended President Tinubu’s reform drive and described Nigeria as a global reference point for reform implementation and results.
The group expressed confidence that the new 6-year World Bank framework for Nigeria will go a long way to change the architecture of the nation’s growth and development, especially at the grassroots.