Nigeria Targets $2.3 Trillion for Infrastructure Development

During the IMF/World Bank meeting in Washington D.C. on April 16, 2026, Nigeria's representative Ewalefoh announced the country's target of $2.3 trillion to bridge its infrastructure gap. Nigeria requires $100 billion annually over the next 23 years, as current budgetary allocations fall short.

Ewalefoh stressed the importance of private sector participation through public-private partnerships (PPP) to fund critical infrastructure projects. He highlighted the need for bankable projects and a supportive institutional framework to attract global investors.

The focus areas for investment include energy, transport, ICT, agriculture, healthcare, and education, with a total funding requirement of $759 billion for energy and $595 billion for transport. Ewalefoh noted that the PPP model must reflect local realities and mitigate investment risks.

President Bola Tinubu's administration aims to enhance the business climate and investor confidence through reforms that ensure a strong legal framework and contract sanctity.