Nigeria is in advanced negotiations with the World Bank Group for a $1.25 billion financing package aimed at supporting economic reforms designed to boost growth, investment, and job creation, according to local media reports and sources familiar with the discussions.

The proposed funding would support the Nigerian government’s ongoing reform agenda focused on fiscal stabilization, private sector development, digital expansion, and improvements in the energy sector.

The program, reportedly titled “Nigeria Actions for Investment and Jobs Acceleration,” is expected to be presented to the World Bank’s board for approval in the coming months if negotiations are finalized.

Africa’s largest economy has implemented a series of major economic reforms under President Bola Tinubu, including the removal of fuel subsidies and the liberalization of the foreign exchange market. Authorities say the measures are necessary to restore investor confidence and stabilize public finances.

However, the discussions surrounding the new financing package have also renewed concerns over Nigeria’s rising public debt burden. Economists and analysts have warned that additional external borrowing could increase fiscal pressure at a time when inflation and living costs remain high across the country.

The Nigerian government maintains that the reforms are intended to create long-term economic resilience, attract foreign investment, and stimulate employment opportunities, particularly for young people.

The World Bank has remained one of Nigeria’s key development partners, supporting projects in infrastructure, social protection, energy, and economic governance over the past decade.