W’Bank targets 32 million Nigerians with electricity by 2032

The World Bank has set its sights on providing electricity to 32 million Nigerians and extending broadband internet access to an additional 58 million people by 2032, as part of its Country Partnership Framework for Nigeria. The framework also aims to benefit 9.5 million farmers through initiatives that enhance agricultural production, value addition, and market linkages.

The World Bank Group plans to mobilize $4.1 billion in private capital for infrastructure and agribusiness projects. Acting Country Director Taimur Samad presented the new framework during the Industrialisation & Competitiveness Forum in Lagos. The focus of the new approach is on job creation, private-sector-led growth, and the mobilization of private capital.

Programmes under the framework will cover distributed renewable energy, broadband infrastructure, access to finance for micro, small, and medium enterprises and agribusiness. The World Bank highlights the framework's goal of creating more and better private-sector jobs, improved competitiveness and growth, and a 30% increase in the non-oil revenue-to-GDP ratio.