World Bank Opens $250B Procurement, Nigerian Firms Encouraged to Apply

The World Bank has unveiled a $250 billion global procurement window, encouraging Nigerian firms to apply for numerous contract opportunities across multiple regions. The bank disclosed that Nigerian companies have secured 6,800 World Bank-financed contracts worth approximately $2.5 billion over the past five years, with 60% of these contracts related to civil works.

Nigerian firms are eligible to bid for projects not only in Nigeria but also across Africa. The International Finance Corporation (IFC) reaffirms its commitment to Nigeria, with direct investments totaling $1.3 billion and efforts to attract $5 billion in private capital.

Additionally, the Development Bank of Nigeria (DBN) partners with Anambra State to offer entrepreneurship training programs and grants to eligible entrepreneurs. These initiatives aim to boost job creation, strengthen technical expertise, and facilitate global market access for Nigerian businesses.