The World Bank Group has announced plans to mobilise up to $5.79bn in private financing for Nigeria in the 2026 fiscal year to support investment in telecommunications, agriculture, small businesses and other key sectors.
According to a report published on the institution’s website, the initiative is expected to expand broadband access, improve agricultural productivity, increase financing for businesses and create about 850,000 direct and indirect jobs.
The financing plan will combine policy reforms, private investments and risk-sharing arrangements involving the World Bank, the International Finance Corporation and the Multilateral Investment Guarantee Agency.
The bank said the initiative builds on economic reforms introduced in Nigeria since mid-2023, including changes to foreign exchange management, fuel subsidies and public finances, which it said were helping improve conditions for private investment.
Under the digital infrastructure programme, the bank expects to attract at least $156m in private equity in the first phase, with subsequent financing rounds potentially unlocking up to $1.1bn by 2030 for a nationwide fibre-optic network. The project aims to extend broadband access to an additional 58 million Nigerians.
In agriculture, the institution plans to mobilise $242m to support value chains and improve access to resources for one million smallholder farmers. It also expects a small-business financing programme to attract nearly $1.89bn in private investment and support more than 250,000 enterprises.
The report further highlighted investments in domestic fertiliser production by Dangote Industries Limited and Indorama Fertiliser, as well as financing for telecommunications infrastructure through IHS Towers.
The World Bank said the investments are intended to strengthen infrastructure, improve access to finance, boost productivity and expand employment opportunities across Nigeria.
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