Nigeria - Country Partnership Framework FY21-FY25 - Chair Summary - December 14, 2020

Jul 19, 2026

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The chair summary records World Bank Group Executive Directors’ discussion and approval of Nigeria’s Country Partnership Framework for FY2021–FY2025 and the Covid-19 Action Recovery and Economic Stimulus (CARES) Program for Results. The summary stresses responding to Nigeria’s high poverty and development challenges through a phased, adaptive CPF centered on human development, economic diversification, and a strong fiscally sustainable public sector. It highlights alignment with COVID-19 response priorities, decisive reform beyond oil dependence, renewable energy as part of green recovery, and attention to health, education, social protection, and vaccine-related regional inequalities.

LanguageEnglish

CategoryResearch & Report

FormatPDF

Pages1

Reading Time3 min

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Executive Directors’ Discussion and Approval

CPF FY2021–FY2025 Priorities

Economic Reform, Governance, and Business Environment

CARES Project Focus and Implementation Considerations

Public Disclosure Authorized Public Disclosure Authorized Nigeria Country Partnership Framework FY21-FY25 and Covid-19 Action Recovery and Economic Stimulus (“CARES”) Program for Results Project Chair Summary* December 14, 2020 Executive Directors discussed the World Bank Group Country Partnership Framework for Nigeria for FY2021-FY2025 and approved the Covid-19 Action Recovery and Economic Stimulus Program for Results Project (or “CARES”) in the amount of SDR 531.3 million (US$750.0 million equivalent) on the terms and conditions set out in the President’s Memorandum. Directors acknowledged that addressing challenges and unlocking opportunities in Africa require tackling the many development challenges and high poverty levels in Nigeria. Directors welcomed the phased and adaptive approach and the focus of the CPF, particularly the emphasis placed on human development, diversifying and transforming the economy, and building a strong, fiscally sustainable public sector. They welcomed the alignment of the CPF with the COVID-19 Approach Paper, in both the shortterm context of the CARES and other operational programs, as well as the longer-term focus on a resilient recovery. Directors urged the Government to move decisively to diversify the economy beyond oil, and to strengthen both domestic resource mobilization and the application of the resources to public investmentsand expenditures. They expressed strong support for an energy transition towards greater use of renewable technologies as part of a green recovery framed by an ambitious climate resilience agenda. Directors welcomed the focus of the strategy on economic reform, addressing the spatial dimensions of poverty and inequality, in particular the human development challenges with a strong focus on education, female empowerment and gender equality. They highlighted the critical role for an improved business environment to achieve higher levels of private sector-led growth and jobs, as well as increase investor confidence in the context of improved investments in infrastructure, agriculture, and food security. They welcomed the World Bank Group support of strategic partnerships that promote healthy competition amongst states that should help encourage business environment reforms. They encouraged strengthening fiscal sustainability, governance and public institutions in order to improve public financial management. For the CARES project, Directors emphasized the importance of monitoring the key economic risks, strengthening health and education systems, and building a long-term strategy for social protection systems drawing on previous experiences and a robust fiscal system. Directors also noted the need to target vulnerable groups and address inequalities between regions in the vaccine rollout. Directors highlighted the need to continue to deepen coordination between the World Bank Group, the IMF, development partners and the Government of Nigeria. *This Summary is not an approved record.

FAQs

What did Executive Directors approve for Nigeria in this summary?

Executive Directors approved the Nigeria Country Partnership Framework for FY2021–FY2025 and the CARES Program for Results project.

What are the main priorities highlighted within the CPF?

The summary emphasizes human development, diversifying and transforming the economy, building a fiscally sustainable public sector, and aligning the CPF with COVID-19 response needs and longer-term resilience.

What focus areas did Directors stress for the CARES project?

Directors emphasized monitoring key economic risks, strengthening health and education systems, building a long-term social protection strategy, and targeting vulnerable groups while addressing regional inequalities during vaccine rollout.

Jul 19, 2026

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