World Bank targets $5.79bn private financing for Nigeria

The World Bank Group plans to mobilise up to $5.79bn in private financing for Nigeria during the 2026 fiscal year. According to Punch, the initiative aims to support investments in critical economic sectors, including agriculture, telecommunications, and small businesses. This drive is expected to expand broadband access, improve agricultural productivity, increase credit availability for businesses, and support the creation of approximately 850,000 jobs.

Punch reports that the financing initiative will involve a combination of commercial investments, policy reforms, and risk-sharing arrangements involving the International Finance Corporation, the Multilateral Investment Guarantee Agency, and the World Bank. The institution linked the investment drive to economic reforms implemented in Nigeria since mid-2023, specifically regarding public finances, fuel subsidies, and foreign exchange management.

These reforms, supported in part through the NAIJA and RESET development policy financing programmes, are noted to be improving conditions for private investment.

Brief written by urgent.news from Punch Nigeria, Punch — 2 reports on this story. Machine-written — may contain errors; check the original before relying on it.