The World Bank Group has disclosed plans to mobilise up to $5.79bn in private financing for Nigeria in the 2026 fiscal year.
The money is meant to support investments in telecommunications, agriculture, small businesses and other critical sectors of the economy.
The initiative is expected to expand broadband access, improve agricultural productivity and increase credit availability for businesses. It is also expected to support the creation of about 850,000 jobs.
The bank disclosed this in a report published on its website on Sunday, titled Unlocking $5.79bn in Private Financing: The World Bank Group Is Leading the Charge for Private Capital Mobilisation in Nigeria.
“In fiscal year 2026, the World Bank Group is helping mobilise up to $5.79bn in private financing to address these barriers,” the report stated.
It explained that the financing initiative would combine policy reforms, commercial investments and risk-sharing arrangements. These involve the World Bank, the International Finance Corporation and the Multilateral Investment Guarantee Agency.
The institution linked the investment drive to economic reforms introduced in Nigeria since mid-2023. It singled out changes in foreign exchange management, fuel subsidies and public finances.
It noted that the reforms, supported partly through its RESET and NAIJA development policy financing programmes, were improving conditions for private investment.
“Further reforms aim to deepen capital markets, expand digital trade, enable greater private participation in electricity, and improve competitiveness,” the report added.
A major component is the Building Resilient Digital Infrastructure for Growth project. It is expected to attract at least $156m in private equity during its first investor selection round.
Subsequent financing rounds could unlock up to $1.1bn by 2030 to develop a nationwide fibre-optic network.
The project is expected to extend broadband access to an additional 58 million Nigerians. This would raise coverage from 92 million people in 2025 to 150 million by 2030.
It will also target connectivity for 38,800 public schools, 16,900 health facilities and 3,400 local government offices.
In agriculture, the bank plans to mobilise $242m through the Agricultural Value Chains for Growth project, targeting one million smallholder farmers.
The amount comprises $220m expected from agribusiness firms and $22m from certified seed producers.
For small businesses, the Fostering Inclusive Finance for MSMEs in Nigeria programme is expected to attract nearly $1.89bn in private financing. It is also expected to support more than 250,000 enterprises.
The programme is backed by a $500m financing package from the World Bank’s lending institutions. It could generate approximately 850,000 direct and indirect jobs, with 30 per cent of financing targeted at women-led businesses.
The report also disclosed that the IFC helped mobilise $1.02bn for Dangote Industries Limited and $282.5m for Indorama Fertiliser. The funds are meant to expand domestic fertiliser production.
Together, the two projects have an annual production capacity of 6.8 million metric tonnes. They are expected to improve access to agricultural inputs for over 10 million farmers.
Similarly, the IFC supported a $1.2bn bond issuance by IHS Towers. This helped attract more than $1.1bn from private investors for telecommunications infrastructure.
The bank stressed that the financing arrangements were intended to attract greater private participation in Nigeria’s development.
“Together, these reforms, platforms, guarantees, and investments are helping mobilise up to $5.79bn in private financing in fiscal year 2026,” it stated.
The institution added that the impact would ultimately depend on improvements in infrastructure, business financing, agricultural productivity and employment opportunities.
