World Bank Group to Mobilize $5.79 Billion for Nigeria

The World Bank Group announced plans to mobilize up to $5.79 billion in private financing for Nigeria in the 2026 fiscal year. This initiative aims to support investments in telecommunications, agriculture, small businesses, and other critical sectors.

The financing is expected to expand broadband access, improve agricultural productivity, increase credit availability for businesses, and create about 850,000 jobs. The initiative will involve policy reforms, commercial investments, and risk-sharing arrangements among the World Bank, International Finance Corporation, and Multilateral Investment Guarantee Agency.

The investment drive is linked to economic reforms in Nigeria since mid-2023, particularly in foreign exchange management, fuel subsidies, and public finances. A significant component is the Building Resilient Digital Infrastructure for Growth project, which aims to attract at least $156 million in private equity and extend broadband access to an additional 58 million Nigerians by 2030.

The Agricultural Value Chains for Growth project aims to mobilize $242 million, targeting one million smallholder farmers.