The World Bank Group plans to mobilise up to $5.79bn in private financing for Nigeria in the 2026 fiscal year to support telecommunications, agriculture and small businesses. The initiative is expected to expand broadband access, improve agricultural productivity, increase business financing and generate about 850,000 jobs.
In a report published on its website, the bank said the funding would combine policy reforms, commercial investments and risk-sharing arrangements involving the World Bank, International Finance Corporation and Multilateral Investment Guarantee Agency. It linked the investment drive to economic reforms introduced in Nigeria since mid-2023, including changes to foreign exchange management, fuel subsidies and public finances.
A major component is the Building Resilient Digital Infrastructure for Growth project, which aims to attract at least $156m in private equity during its first investor selection round. Further financing rounds could unlock up to $1.1bn by 2030 for a nationwide fibre-optic network, extending broadband access from 92 million Nigerians in 2025 to 150 million by 2030.
The digital infrastructure project also targets connectivity for 38,800 public schools, 16,900 health facilities and 3,400 local government offices. The bank said improved internet access would support digital services and strengthen connectivity across essential public institutions.
In agriculture, the World Bank plans to mobilise $242m through the Agricultural Value Chains for Growth project, targeting one million smallholder farmers. The funding comprises $220m expected from agribusiness firms and $22m from certified seed producers to support agricultural productivity.
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 enterprises. Backed by a $500m financing package from the World Bank’s lending institutions, the programme could generate about 850,000 direct and indirect jobs, with 30 per cent of financing targeted at women-led businesses.
The report also highlighted IFC-backed investments, including $1.02bn mobilised for Dangote Industries Limited and $282.5m for Indorama Fertiliser to expand domestic fertiliser production.
The projects have a combined annual capacity of 6.8 million metric tonnes and are expected to improve access to agricultural inputs for more than 10 million farmers. The IFC also supported a $1.2bn bond issuance by IHS Towers, attracting over $1.1bn from private investors for telecommunications infrastructure.
