Nigeria Government Seeks $500m World Bank Loan for Infrastructure

The Federal Government of Nigeria is pursuing a $500m loan from the World Bank to establish an infrastructure financing platform, with the proposed approval set for 25 May, 2027, shortly before the inauguration of Nigeria’s next president on 29 May, 2027. This loan is part of a larger $3.85bn initiative aimed at attracting private investment into critical sectors of the Nigerian economy, identified as the Nigeria Infrastructure Financing and De-Risking Platform for Growth and Jobs (INFRAGROW).

The Federal Ministry of Finance is designated as the borrower, while the Nigeria Sovereign Investment Authority will implement the project. The World Bank's technical design review is scheduled for 21 January, 2027.

The financing gap for Nigeria's infrastructure is approximately $100bn annually, which poses significant challenges to economic growth. The proposed $500m loan includes $400m from the International Bank for Reconstruction and Development and $100m from the International Development Association, with additional contributions from government and private investors.