World Bank targets $5.79bn private financing for Nigeria

The World Bank Group has announced plans to mobilize up to $5.79 billion in private financing for Nigeria in the 2026 fiscal year, with the aim of supporting investments in critical sectors such as telecommunications, agriculture, and small businesses. The initiative, detailed in a report titled "Unlocking $5.79 Billion in Private Financing," is expected to expand broadband access, improve agricultural productivity, and increase credit availability for businesses.

This financing push is tied to recent economic reforms in Nigeria, including changes in foreign exchange management, fuel subsidies, and public finances. Key projects include the Building Resilient Digital Infrastructure for Growth, which aims to develop a nationwide fibre-optic network and provide broadband access to an additional 58 million Nigerians by 2030.

In agriculture, the bank plans to mobilize $242 million through the Agricultural Value Chains for Growth project, targeting one million smallholder farmers. Additionally, the Fostering Inclusive Finance for MSMEs in Nigeria programme is expected to attract nearly $1.89 billion in private financing, supporting over 250,000 enterprises and generating approximately 850,000 jobs, with a focus on women-led businesses.

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