World Bank Group mobilizes private capital for Nigerian infrastructure
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The World Bank Group is helping mobilize up to US$5.79 billion in private financing to address infrastructure and financing gaps in Nigeria during fiscal year 2026.
This effort involves a coordinated approach where different institutions provide specific tools. The World Bank supports policy reforms to improve the investment environment, the International Finance Corporation (IFC) structures investments and brings in commercial lenders, and the Multilateral Investment Guarantee Agency (MIGA) provides guarantees to reduce risks for private investors.
The initiative targets several key sectors, including digital infrastructure, agriculture, and small business finance. In the digital sector, the Building Resilient Digital Infrastructure for Growth (BRIDGE) Project uses a public-private partnership to build a nationwide fiber-optic network. This project aims to provide affordable broadband to an additional 58 million people by 2030, including 42 million young people and 15 million women. It also intends to connect thousands of schools, health facilities, and government offices to high-speed internet.
For the agricultural sector, the Agricultural Value Chains for Growth (AGROW) Project works to improve seed and fertilizer systems for one million smallholder farmers. The project seeks to mobilize hundreds of millions of dollars from agribusiness firms and seed producers. Additionally, the IFC provided financing for Dangote Industries Limited and Indorama Fertilizer to expand domestic fertilizer production. These two projects have a combined production capacity of 6.8 million metric tons per year to help reduce reliance on imported inputs.
The Fostering Inclusive Finance for MSMEs in Nigeria (FINCLUDE) program aims to expand credit for more than 250,000 micro, small, and medium enterprises. A US$500 million package from the International Bank for Reconstruction and Development and the International Development Association supports this by providing risk-sharing tools. The program expects to mobilize nearly US$1.89 billion in private financing and create an estimated 850,000 direct and indirect jobs.
