The World Bank Group says it plans to mobilise up to $5.79bn in private-sector financing for Nigeria in the 2026 fiscal year to support investments in telecommunications, agriculture, small businesses and other key sectors.
The initiative is expected to improve broadband connectivity, boost agricultural production, expand access to credit for businesses and create about 850,000 jobs.
The disclosure was contained in a report published on the World Bank’s website on Sunday, titled Unlocking $5.79bn in Private Financing: The World Bank Group Is Leading the Charge for Private Capital Mobilisation in Nigeria.
According to the report, the financing strategy will combine policy reforms, commercial investments and risk-sharing arrangements involving the World Bank, the International Finance Corporation and the Multilateral Investment Guarantee Agency.
The institution attributed the investment drive partly to economic reforms introduced in Nigeria since mid-2023, particularly changes to foreign exchange management, fuel subsidies and public finances. It said its RESET and NAIJA development policy financing programmes had also supported efforts to improve the business environment.
The World Bank added that further reforms would focus on strengthening capital markets, expanding digital trade, encouraging private investment in electricity and improving economic competitiveness.
Under the Building Resilient Digital Infrastructure for Growth project, the bank expects to attract at least $156m in private equity during the first round of investor selection. Additional financing rounds could raise as much as $1.1bn by 2030 to support the development of a nationwide fibre-optic network.
The project aims to extend broadband access to another 58 million Nigerians, increasing the number of people covered from 92 million in 2025 to 150 million by 2030. It also targets connectivity for 38,800 public schools, 16,900 health facilities and 3,400 local government offices.
In agriculture, the Agricultural Value Chains for Growth project is expected to mobilise $242m to support one million smallholder farmers. The funding is projected to include $220m from agribusiness companies and $22m from certified seed producers.
For micro, small and medium-sized enterprises, the Fostering Inclusive Finance for MSMEs in Nigeria programme is expected to attract nearly $1.89bn in private financing and support more than 250,000 businesses.
The programme is backed by a $500m financing package from the World Bank’s lending institutions and is projected to generate approximately 850,000 direct and indirect jobs. Women-led businesses are expected to receive 30 per cent of the financing.
The report also highlighted investments facilitated by the International Finance Corporation, including $1.02bn mobilised for Dangote Industries Limited and $282.5m for Indorama Fertiliser to expand domestic fertiliser production.
The two projects have a combined annual production capacity of 6.8 million metric tonnes and are expected to improve access to agricultural inputs for more than 10 million farmers.
In the telecommunications sector, the IFC supported a $1.2bn bond issuance by IHS Towers, helping the company attract more than $1.1bn from private investors for infrastructure development.
The World Bank Group said the combination of reforms, financing platforms, guarantees and investments would help mobilise up to $5.79bn in private capital during the 2026 fiscal year.
It added that the overall impact would depend on how effectively the investments improve infrastructure, expand business financing, raise agricultural productivity and create employment opportunities.
Source: PUNCH
