Nigeria Seeks $500M World Bank Loan for Infrastructure

The Federal Government of Nigeria is seeking a $500 million loan from the World Bank to establish an infrastructure financing platform intended to draw private investment into critical sectors of the economy. This initiative is part of a broader $3.85 billion project called the Nigeria Infrastructure Financing and De-Risking Platform for Growth and Jobs (INFRAGROW).

The loan is scheduled for approval on May 25, 2027, just days before the inauguration of Nigeria’s next president on May 29, 2027. The Federal Ministry of Finance is identified as the borrower, while the Nigeria Sovereign Investment Authority (NSIA) will implement the project.

The World Bank has indicated that Nigeria faces an annual infrastructure financing shortfall of approximately $100 billion, necessitating not just additional funding but also commercially viable projects and improved investment conditions. The proposed financing includes $400 million from the International Bank for Reconstruction and Development and $100 million from the International Development Association, with the NSIA contributing $200 million in equity.