The World Bank has approved a $1.25 billion Development Policy Financing (DPF) loan for Nigeria despite growing public concerns over the country’s rising debt profile, while unveiling a new six-year partnership framework aimed at accelerating private sector-led economic growth and job creation.

The approval was announced on Wednesday following a meeting of the World Bank Board, which endorsed both the Nigeria Actions for Investment and Jobs Acceleration (NAIJA) Development Policy Financing operation and a new Country Partnership Framework (CPF) covering 2026 to 2032.

The latest facility comes amid widespread criticism from many Nigerians over the government’s increasing reliance on external borrowing and calls for greater accountability in the utilisation of previous World Bank loans.

According to the World Bank, the $1.25 billion loan will support reforms designed to strengthen Nigeria’s economic competitiveness, improve the investment climate, and stimulate private sector-led growth.

The institution said the financing would help deepen Nigeria’s capital markets, modernise regulations governing the digital economy and e-governance, advance power sector reforms, reduce trade barriers under the ECOWAS and African Continental Free Trade Area (AfCFTA) frameworks, improve access to quality agricultural inputs, and strengthen domestic revenue mobilisation.

The bank noted that the financing forms part of a broader package of support combining policy-based lending with investments in energy, digital infrastructure, agriculture, social protection, and private sector development.

Alongside the loan approval, the World Bank launched its new Country Partnership Framework for Nigeria, which will guide its engagement with the country between 2026 and 2032.

Under the strategy, the bank aims to support programmes expected to provide electricity access to 32 million Nigerians, broadband connectivity to 58 million people, improved health and nutrition services for 40 million citizens, and increased agricultural productivity for 9.5 million farmers through better access to quality inputs.

The framework also seeks to strengthen human capital development while expanding investments in digital infrastructure and energy to stimulate economic growth.

World Bank Country Director for Nigeria, Mathew Verghis, said the new partnership framework would focus on creating sustainable employment by enabling private sector investment.

According to him, recent macroeconomic reforms have helped stabilise Nigeria’s economy, but sustained improvements in living standards would require addressing structural constraints limiting business growth and investment.

The World Bank also disclosed that its private sector financing arm, the International Finance Corporation, and its political risk insurance agency, Multilateral Investment Guarantee Agency, would play key roles in mobilising private investment under the new framework.

IFC Divisional Director for Nigeria, Dahlia Khalifa, said Nigeria’s long-term economic prospects depend on its ability to attract investment, improve productivity and unlock private sector job creation.

Similarly, MIGA Vice President and Chief Financial Officer, Ed Mountfield, said the agency would expand the use of guarantees and political risk insurance to encourage investments in critical sectors, including infrastructure and financial services.

The newly approved facility is the second-largest World Bank loan granted to Nigeria under the administration of Bola Ahmed Tinubu, following the $1.5 billion Reforms for Economic Stabilisation to Enable Transformation Development Policy Financing approved in June 2024.

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For more than three decades, residents of Mgbidi community in Awgu Local Government Area of Enugu State have struggled to complete a bridge project initiated and funded through communal efforts, but the structure remains unfinished.

With the project estimated at about 55 per cent completion, the community is now appealing to Governor Peter Mbah and elected representatives from the area to intervene and rescue it from decades of infrastructural neglect.

Speaking on the abandoned project, President-General of Mgbidi Central Union (MCU), Barrister Tochukwu Nzeh, said the community had exhausted its resources and could no longer sustain the project due to the rising cost of construction materials.

“We have done our best as a community, but we can no longer continue. We are appealing to Governor Peter Mbah to come to our aid and help us complete this bridge,” Nzeh said.

He lamented that despite its population, economic contributions and historical significance, Mgbidi has continued to suffer neglect from successive administrations.

According to him, there is little or no government presence in the two autonomous communities that make up Mgbidi, while basic infrastructure such as healthcare facilities remains in poor condition.

Beyond the bridge project, Nzeh highlighted the deplorable state of the community’s only access road — a seven-kilometre stretch linking Mgbidi to neighbouring Mmaku on the Awgu-Oji River Federal Road.

He explained that the road, originally constructed through communal efforts more than a century ago, has deteriorated significantly and remains a major challenge for residents.

The road traverses the entire community and extends to Adani Ezioha village, which hosts the National Youth Service Corps (NYSC) Orientation Camp.

Nzeh noted that completing the bridge and rehabilitating the road would not only benefit Mgbidi but also neighbouring communities including Nenwenta, Nkwe and Ezere, whose residents depend on the route for transportation and economic activities.

“Besides connecting the two autonomous communities in Mgbidi, this road and bridge, when completed, will bring immense relief to neighbouring communities and boost economic activities in the area,” he stated.

As a predominantly agrarian community, Mgbidi is known for producing vegetables, cassava, pineapples and other farm produce supplied to major markets in Enugu, Awka, Onitsha, Aba and Port Harcourt.

However, residents say poor road infrastructure has continued to hinder economic activities, making it difficult for farmers to transport goods to markets and discouraging buyers from visiting the area.

Community leaders also noted that the poor road network has created hardships for traders, students, pregnant women and elderly residents, particularly during the rainy season when sections of the road become nearly impassable.

Nzeh said Mgbidi, with a population of more than 52,000 people, remains one of the largest farming communities in Awgu Local Government Area and possesses significant tourism potential.

He identified natural attractions such as caves, waterfalls and other scenic sites that could attract tourists and investors if supported with adequate infrastructure.

Community leaders argue that Mgbidi’s strategic importance and contributions to the development of the area make its prolonged neglect difficult to justify.

The community is widely recognised as the ancestral home of the late Chief G.I. Oko, a prominent leader whose contributions were instrumental to the creation of the old Awgu Division during the colonial era.

A community leader, Ichie Matthew Okpara, and a retired civil servant, Chief Festus Ifeji, expressed concern over the continued neglect of the area despite its historical significance.

“For years, the people have watched neighbouring communities benefit from government projects while Mgbidi remained on the margins,” Ifeji said.

He added that the poor condition of roads, healthcare facilities and other critical infrastructure has continued to limit economic opportunities and force many young people to migrate in search of better prospects.

Speaking emotionally, 98-year-old Ichie Okpara appealed to Governor Mbah to intervene and ensure the completion of the bridge project during his lifetime.

Earlier this year, an indigene of the community drew public attention to the plight of Mgbidi through a viral video highlighting the deplorable state of the road and the abandoned bridge project.

The resident recalled that construction of the bridge had already commenced while he was still in primary school but lamented that decades later, the project remains unfinished due to lack of funding.

While commending Governor Mbah for ongoing developmental projects across Enugu State, including the Smart School project under construction in Mgbidi, he appealed for similar intervention in road and bridge infrastructure.

“I have seen the transformation taking place across Enugu State under Governor Peter Mbah. I believe he will extend the same intervention to Mgbidi and bring an end to decades of hardship suffered by our people,” he said.

Also speaking, an Enugu-based cleric from the community, Pastor Edwin Ogbonna, called for urgent government intervention, noting that residents had continued to pray for a breakthrough on the project.

For many residents, the appeal goes beyond completing a bridge or rehabilitating a road. It represents a call for inclusion, development and recognition after more than 30 years of waiting.

Having sustained the project through communal efforts for decades, the people of Mgbidi say their hope now rests on government intervention to finally turn their long-awaited dream into reality.

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The Katsina State Government has clarified details surrounding the ₦155 billion agro-residential housing project planned for Kankia and Charanchi Local Government Areas, insisting that the initiative will deliver affordable housing, employment, and sustainable agricultural livelihoods for residents across the state.

Addressing growing public interest in the project, the Head of Service, Alhaji Falalu Bawale, said the programme is structured as a self-financing development model that places no direct financial burden on the state government.

Speaking at a press briefing on Thursday at the State Secretariat Complex in Katsina, Bawale explained that the project, being implemented in partnership with COSMOS Residential City Nigeria Limited, combines housing development with agriculture and aquaculture to ensure long-term economic sustainability.

How the project will work

Under the agreement, the Katsina State Government will provide land and guarantees, while the private consultant will finance, construct, and manage the project. According to Bawale, the consultant will recover its investment through the sale of agricultural produce generated within the housing estates.

“The project is a game-changer. The consultant recovers its investment from agricultural output, not from state funds,” he said.

Participants selected for the programme will undergo training in agriculture and aquaculture and will receive a monthly stipend of ₦200,000 during the implementation phase.

Bawale added that beneficiaries will be drawn from all 34 local government areas of the state, ensuring broad inclusion and equitable access to the programme.

Housing and agriculture combined

The project follows the signing of a ₦155 billion Memorandum of Understanding (MoU) between the Katsina State Government and COSMOS Residential City Nigeria Limited on January 22, 2026.

Under the agreement, 2,500 housing units will be constructed in Kankia Local Government Area, while 1,000 units will be developed in Radda community, Charanchi Local Government Area, bringing the total to 3,500 homes.

Governor Dikko Radda, while signing the MoU at the Government House in Katsina, described the initiative as an innovative agro-residential model designed to address housing shortages, unemployment, and food security simultaneously.

Each housing unit will feature backyard fish farming and vegetable gardens, enabling residents to generate income while meeting household food needs.

Economic impact and youth empowerment

The General Manager of the Katsina State Housing Authority, Aliyu Kurfi, praised the project, noting that it would create thousands of jobs, particularly for young people.

He also commended Governor Radda and the Minister of Housing and Urban Development, Architect Ahmed Dangiwa, for supporting a model that blends housing delivery with economic empowerment.

According to the state government, beneficiaries will include unemployed youths and low-income households, including individuals without formal education but with practical farming or vocational skills.

Ownership structure and savings plan

Governor Radda explained that participants are expected to earn up to ₦200,000 monthly, from which they will make mandatory savings of between ₦50,000 and ₦70,000.

These savings will gradually offset investors’ costs, after which beneficiaries will gain full ownership of both the houses and farm assets within three to five years.

“This approach ensures dignity, ownership, and sustainability, rather than dependency,” the governor said.

Project timeline

The governor disclosed that land for the project has already been allocated in both Kankia and Radda communities, while COSMOS Residential City Nigeria Limited has committed to mobilising to site within 10 days.

Construction is expected to be completed within 16 months to two years, subject to weather and logistical conditions.

State officials say the initiative aligns with Katsina’s broader development strategy focused on housing delivery, youth employment, and agricultural productivity.

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Ondo State Governor, Lucky Aiyedatiwa, has approved the establishment of a $42 million Ondo Agricultural City in Iju-Agbonrin/Ori-Ohin, Ose Local Government Area, to be developed by KONIG Agriculture Ltd under the Federal Government’s Framework for Responsible and Inclusive Land-intensive Agriculture (FRILIA).

The Commissioner for Agriculture and Forestry, Leye Akinola, confirmed the development in a statement on Sunday, a day after signing the land-lease agreement as guarantor between community landowners and the company.

Akinola described the agricultural city as a major step toward expanding food production, strengthening agribusiness investment and accelerating economic growth in the state. He said the Aiyedatiwa administration remains committed to creating an investor-friendly environment and ensuring that genuine private sector partners are adequately supported.

According to him, the project will significantly reduce unemployment and insecurity in the host communities, as KONIG Agriculture plans to hire a majority of its workforce locally.

He commended the governor for prioritising agriculture and pushing forward policies aimed at achieving food security. The commissioner revealed that the ministry would act as guarantor to landowners to protect both community rights and investor interests.

He further disclosed that the Northern Senatorial District will witness “an unprecedented agricultural revolution,” including the revival of the long-abandoned Akunnu cattle ranch built during the old Western Region era.

The Permanent Secretary of the ministry, Mrs. Foluke Tunde-Daramola, who witnessed the contract signing, urged community leaders to encourage their youths and women to take advantage of the job opportunities the project will create.

Project Lead for KONIG Agriculture Ltd, Oluwasegun Saliu, praised the state government for attracting the investment and emphasized that over 60 percent of the workforce would come from the host communities. He added that the firm would provide key community support through corporate social responsibility initiatives, including boreholes, solar power systems and a farm-based health facility.

Mrs. Justina Arogundade, representing FRILIA, said the framework ensures that large-scale agricultural investments adhere to global standards of sustainability, social protection and community benefit.

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Despite a recent decline in food inflation across Nigeria, many residents of the Federal Capital Territory (FCT) continue to struggle with low purchasing power, making it difficult to buy staple food items.

Residents who spoke with the News Agency of Nigeria (NAN) attributed the challenge to limited income.

“Although some food items have slightly reduced in price, the difference is not yet significant due to low earnings,” they said. According to the National Bureau of Statistics (NBS), Nigeria’s annual food inflation rate dropped to 16.87 percent in September 2025, down from 21.87 percent in August, largely due to seasonal harvests of grains such as maize and millet.

At local markets, the reduction is evident: a bag of local rice dropped from N75,000 to N57,000, foreign rice from N90,000–N100,000 to N70,000, while a dustbin basket of pepper fell to N2,000–N2,300.

Despite this, many households reported that the lower prices have not translated into affordability. Civil servant John Okeke said, “If food prices have dropped, are they really affordable to the common man?

After paying rent, school fees, transport, and other expenses, little is left for household needs.”

Meanwhile, Minister of State for Agriculture and Food Security, Aliyu Sabi, attributed the price decline to improved local production and government intervention programs, including the National Agricultural Growth Scheme (NAGS) Agro-Pocket Programme, which injected over 500,000 metric tonnes of wheat, maize, cassava, and other crops into the market.

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Minister of Agriculture and Food Security, Senator Abubakar Kyari, says the Federal Government is implementing measures to sustain the ongoing decline in food prices across Nigeria.

Speaking in Abuja after a Senate public hearing on key agriculture bills, Kyari said the government is focusing on lowering the cost of fertiliser, irrigation, and fuel, while expanding access to credit for farmers through public-private partnerships.

According to the National Bureau of Statistics (NBS), food inflation dropped from 20.12% in August to 18.02% in September 2025, marking the sixth consecutive monthly decline.

Kyari announced that the government has launched a community-based storage initiative to curb post-harvest losses, replacing large urban silos with smaller facilities closer to farmers. “About 85% of our new storage will be in rural areas,” he said.

He added that funding support will come from the New Growth Infrastructure Fund and the National Agriculture Development Fund, aimed at strengthening the food supply chain and stabilising prices.

Kyari reaffirmed that the reforms are part of President Bola Tinubu’s Renewed Hope Agenda, focused on food security, rural prosperity, and farmer empowerment.

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Bayelsa State has signed an MoU with China Civil Engineering Construction Corporation (CCECC) to develop infrastructure, agriculture, aquaculture, and housing projects.

Governor Douye Diri signed the deal in Beijing, describing CCECC as a key development partner. CCECC President Chen Sichang said the firm will invest in community roads, power, water supply, and farming projects.

Sichang highlighted CCECC’s ongoing 630-metre Angiama-Oporoma bridge project, its longest stand-alone bridge in Nigeria, and pledged timely delivery.

Diri noted that the state had cleared inherited debts to strengthen collaboration and announced plans to invite President Bola Tinubu to commission the bridge in February 2026.

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Turkey is facing its worst drought in more than half a century, with rainfall dropping 27 percent below the 30-year average, according to the Turkish State Meteorological Service (MGM).

From October 2024 to August 2025, precipitation averaged 401.1 mm, compared to 548.5 mm in previous decades. Southeastern Anatolia saw rainfall fall by over 60 percent, while reservoirs in the west dropped to just three percent of normal levels.

The country also endured record heat, with July the hottest in 55 years and Silopi hitting 50.5°C. Adana recorded its hottest day in 95 years at 47.5°C, worsening wildfires and water shortages.

The drought has devastated agriculture, threatening exports like apricots, figs, and hazelnuts. President Recep Tayyip Erdoğan estimated farm losses at 23 billion lira ($557 million) and promised aid for uninsured farmers.

Experts warn that 88 percent of Turkey faces desertification risk, with rainfall projected to drop by a third and temperatures rising by up to 6°C by the century’s end.

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At ₦14.85 trillion, Nigeria’s first-quarter GDP in 2025 showed a real growth rate of 1.75 per cent, with Lagos remaining the principal driver of output. The figure reflects a slowdown from 3.01 per cent in Q4 and 3.88 per cent in Q3 2024.

Commissioner for Economic Planning and Budget, Ope George, disclosed the numbers during a 2026 Budget Consultative Forum in Ikeja, noting that Lagos continues to anchor national economic momentum despite pressures from weakened consumer demand and broader macroeconomic headwinds.

The services sector contributed more than 90 per cent of total output but experienced softer growth. Industry sustained its rebound, supported by manufacturing, while agriculture returned to positive territory with gains in crops, livestock, and fisheries pointing to a more diversified Lagos economy.

Beyond core sectors, George revealed that Lagos was ranked the world’s fastest-growing tech city in 2025 by Dealroom, surpassing Istanbul, Pune, and Mumbai in enterprise value growth and startup resilience.

The state also received global recognition from Time Out, which ranked Lagos the 14th best city worldwide and second in Africa for nightlife. George said the challenge now lies in transforming nightlife into a structured economic sector that delivers tourism revenue, youth employment, and safer urban spaces.

Reaffirming Governor Babajide Sanwo-Olu’s THEMES+ agenda with a focus on gender equality, social inclusion, and youth empowerment the commissioner appealed to Lagos residents to strengthen internally generated revenue by paying taxes, stressing that budget performance depends on citizen contributions.

He also acknowledged the strain caused by fuel subsidy removal, highlighting measures such as discounted bus fares, CNG bus deployment, and free healthcare for children, the elderly, and pregnant women.

Closing the forum, Special Adviser on Economic Planning and Budget, Olalekan Balogun, commended stakeholders for shaping state policy through active participation. He assured residents that their feedback would inform the 2026 budget, ensuring more investments in housing, roads, water, healthcare, education, and job creation.

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The initiative, rolled out in Gboko Local Government Area, aims to empower 50 selected farmers with the tools and resources needed to cultivate both subsistence and commercial crops. The beneficiaries were drawn from six catchment areas around the company’s Gboko plant.

As part of the programme, farmers will receive essential agricultural inputs including fertilisers, agrochemicals, knapsack sprayers, and high-quality seedlings. The effort aligns with ongoing national strategies to enhance food security and strengthen rural economies.

Company officials described the project as both “historic and innovative,” and pledged to make it an annual initiative, adaptable to the evolving needs of participating communities. The programme builds on Dangote Cement’s broader commitment to social investment, following recent support initiatives for women and students in the region.

Additional projects are already in the pipeline, including a youth-focused empowerment programme that will provide vocational training in skills such as welding, fabrication, and solar electrical installation.

Community members have welcomed the programme as a timely intervention to support agriculture and boost local food supply. The empowerment drive is expected to create new economic opportunities while contributing to national efforts to enhance agricultural productivity and self-sufficiency.

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