The World Bank Group says it is helping mobilise up to $5.79 billion in private financing to support Nigeria’s economic transformation, expand infrastructure and create jobs across critical sectors.
In a report titled “Unlocking $5.79 Billion in Private Financing”, the institution outlined investments and financing arrangements covering agriculture, telecommunications and small businesses.
It said the initiative combines policy reforms, investment platforms, commercial financing and risk-mitigation instruments to attract private capital, with the International Finance Corporation (IFC) and Multilateral Investment Guarantee Agency (MIGA) playing key roles.
According to the report, Nigeria’s economic reforms since mid-2023, particularly in foreign-exchange management and public finance, have helped create more predictable investment conditions.
The Building Resilient Digital Infrastructure for Growth (BRIDGE) Project is expected to attract at least $156 million in private equity through its initial investor-selection process, with subsequent rounds potentially unlocking $1.1 billion by 2030.
The project aims to extend affordable broadband access to an additional 58 million Nigerians, increasing coverage from 92 million people in 2025 to about 150 million by 2030. Beneficiaries are expected to include 42 million additional young people and 15 million women, as well as 38,800 public schools, 16,900 health facilities and 3,400 local government offices.
For small businesses, the Fostering Inclusive Finance for MSMEs in Nigeria programme (FINCLUDE) is expected to mobilise nearly $1.89 billion in private financing and support about 850,000 direct and indirect jobs. It targets more than 250,000 micro, small and medium enterprises, particularly those in employment-intensive sectors.
The programme includes a $500 million financing package combining resources from the International Bank for Reconstruction and Development and the International Development Association.
In agriculture, the Agricultural Value Chains for Growth Project is expected to support about one million smallholder farmers. It is projected to attract $220 million from agribusiness companies and another $22 million from certified seed producers.
The World Bank also highlighted IFC-supported financing arrangements that mobilised $1.02 billion for Dangote Industries Limited and $282.5 million for Indorama Fertilizer to strengthen domestic fertiliser production. The investments could improve agricultural productivity and access to inputs for more than 10 million smallholder farmers.
In telecommunications, IFC participated in a $1.2 billion bond issuance by IHS Towers, helping attract more than $1.1 billion from private investors into the sector.
The institution said the investments could boost productivity and support private-sector-led economic growth. However, it clarified that the $5.79 billion represents financing already mobilised alongside anticipated investments, rather than a newly approved loan or grant.
It added that the initiative’s success would ultimately be measured by improvements in employment, infrastructure, agricultural productivity and economic opportunities for Nigerians.
