The World Bank Group has disclosed plans to mobilize up to $5.79bn in private financing for Nigeria in the 2026 fiscal year to support investments in telecommunications, agriculture, small businesses, and other critical sectors of the economy.
The initiative is expected to expand broadband access, improve agricultural productivity, increase credit availability for businesses, and support the creation of about 850,000 jobs.
The bank disclosed this in a report published on its website on Sunday, titled Unlocking $5.79bn in Private Financing: The World Bank Group Is Leading the Charge for Private Capital Mobilization in Nigeria.
“In fiscal year 2026, the World Bank Group is helping mobilize up to $5.79bn in private financing to address these barriers,” the report stated.
It explained that the financing initiative would combine policy reforms, commercial investments, and risk-sharing arrangements involving the World Bank, International Finance Corporation, and Multilateral Investment Guarantee Agency.
The institution linked the investment drive to economic reforms introduced in Nigeria since mid-2023, particularly changes in foreign exchange management, fuel subsidies, and public finances.
It noted that the reforms, supported partly through its RESET and NAIJA development policy financing programs, were improving conditions for private investment.
“Further reforms aim to deepen capital markets, expand digital trade, enable greater private participation in electricity, and improve competitiveness,” the report added.
A major component is the Building Resilient Digital Infrastructure for Growth project, which is expected to attract at least $156m in private equity during its first investor selection round.
Subsequent financing rounds could unlock up to $1.1bn by 2030 to develop a nationwide fiber-optic network. The project is expected to extend broadband access to an additional 58 million Nigerians, increasing coverage from 92 million people in 2025 to 150 million by 2030.
It will also target connectivity for 38,800 public schools, 16,900 health facilities, and 3,400 local government offices. In agriculture, the bank plans to mobilize $242m through the Agricultural Value Chains for Growth project, targeting one million smallholder farmers.
The amount comprises $220m expected from agribusiness firms and $22m from certified seed producers. For small businesses, the Fostering Inclusive Finance for MSMEs in Nigeria program 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 program could generate approximately 850,000 direct and indirect jobs, with 30 percent of financing targeted at women-led businesses.
The report also disclosed that the IFC helped mobilize $1.02bn for Dangote Industries Limited and $282.5m for Indorama Fertilizer to expand domestic fertilizer production.
