Nigeria, July 1 -- The World Bank has approved $1.25 billion in development financing for Nigeria to support reforms aimed at accelerating economic growth, creating jobs, and strengthening private sector-led investment.

The approval was announced on Wednesday alongside the endorsement of a new Country Partnership Framework (CPF) for Nigeria covering 2026 to 2032, according to Bloomberg.

The framework outlines the lender's strategy for supporting Africa's largest economy over the next six years.

The financing will support reforms designed to deepen Nigeria's capital markets, modernise the regulatory framework for the digital economy and e-governance, expand energy access, and strengthen the country's investment climate.

"The World Bank...