The World Bank Group plans to raise up to $5.79bn in private financing for Nigeria in the 2026 fiscal year. The World Bank private financing will support telecommunications, agriculture, small businesses and other key sectors.
The bank said the plan should widen broadband access, raise farm output and increase credit for businesses. It also expects the plan to help create about 850,000 jobs.
The bank disclosed this in a report published on its website on Sunday. The report is titled “Unlocking $5.79bn in Private Financing: The World Bank Group Is Leading the Charge for Private Capital Mobilisation in Nigeria.”
How the World Bank private financing will work
According to the report, the plan combines policy reforms, commercial investments and risk-sharing arrangements. The World Bank, the International Finance Corporation and the Multilateral Investment Guarantee Agency are all involved.
The bank linked the drive to reforms Nigeria has carried out since mid-2023. These include changes to foreign exchange management, fuel subsidies and public finances. It said the reforms, backed partly by its RESET and NAIJA programmes, are improving conditions for private investors.
“Further reforms aim to deepen capital markets, expand digital trade, enable greater private participation in electricity, and improve competitiveness,” the report said.
Broadband and agriculture targets
A major part is the Building Resilient Digital Infrastructure for Growth project. It should attract at least $156m in private equity in its first investor round. Later rounds could unlock up to $1.1bn by 2030 for a nationwide fibre-optic network.
As a result, broadband access should reach 58 million more Nigerians. Coverage would rise from 92 million people in 2025 to 150 million by 2030. The project also targets 38,800 public schools, 16,900 health facilities and 3,400 local government offices.
In agriculture, the bank plans to raise $242m through the Agricultural Value Chains for Growth project. It targets one million smallholder farmers. Agribusiness firms are expected to provide $220m, and certified seed producers $22m.
Support for small businesses
For small businesses, the Fostering Inclusive Finance for MSMEs in Nigeria programme is expected to attract nearly $1.89bn. It should support more than 250,000 enterprises.
A $500m package from the bank’s lending arms backs the programme. It could generate about 850,000 direct and indirect jobs. Also, 30 per cent of the financing is meant for women-led businesses.
Earlier deals by the IFC
The report said the IFC helped raise $1.02bn for Dangote Industries Limited and $282.5m for Indorama Fertiliser. Together, the two projects can produce 6.8 million metric tonnes a year. They should improve access to farm inputs for over 10 million farmers.
The IFC also backed a $1.2bn bond issue by IHS Towers. It drew more than $1.1bn from private investors for telecom infrastructure.
However, the bank stressed that the final impact will depend on progress in infrastructure, business financing, farm productivity and job creation.
