This research studies the formulation of a biofertilizer using coco peat as a carrier agent along with plant growth-promoting rhizobacteria (PGPR) on the growth enhancement of Zea mays (maize) under drought stress. Rhizobacteria were isolated from Phyllanthus amarus growing around a waste-dump site and screened for plant growth-promoting (PGP) traits: indole-3-acetic acid (IAA) production and phosphate solubilization. Rhizobacteria were further tested for PGP activity via a seed germination bioassay. The formulations were prepared by homogenizing 20ml of each PGPR standardized inoculum with 2g of oven-dried coco peat. The PGP potential of the formulations was evaluated in a pot experiment by measuring the wet weight (WW), plant height (PH), and shoot and root lengths (SL and RL) of the treated maize seeds weekly,for 14 days. Drought stress was simulated by not watering maize plants during the pot experiment. Ten (10) rhizobacteria were isolated; only two were positive for IAA production and phosphate solubilization. Four rhizobacteria (CE, PP, LP and DYE) expressed superior growth performance during the seed germination bioassay and were further used for the formulation ( 2g coco peat+20 ml CE) and pot experiment. On Day 14, the SL, RL, PH, and WW of maize seeds cultivated with the formulations ranged between 2.2 and 6.3cm, 2.5 and 15.1cm, 27 and 41.1cm, and 1 and 2g, respectively, while the corresponding values for the control (maize seeds + coco peat only) were 7cm (SL), 3.5cm (RL), 30cm (PH), and 1g (WW). On day 16, all plants withered except for those treated with 2g coco peat+20 ml CE and 2g coco peat+20 ml DYE. These PGPR were further identified by 16s rDNA sequencing and biochemical tests as Priestia flexa strain PG61 and Staphylococcus aureus, respectively. This study therefore shows the potential of carrier-based rhizobacteria fertilizers in managing drought stress and enhancing plant growth, thus effectively achieving Sustainable Development Goal 2.