The World Bank Group has made public its intention to obtain private financing of up to $5.79 billion for Nigeria in the fiscal year 2026 in order to support investment in the telecommunications sector, in agriculture, in small businesses and in other important parts of the economy.
It is expected that the initiative will broaden access to broadband, boost agricultural productivity, increase the availability of credit for businesses, and will help to create around 850,000 jobs.
The bank made this statement in a report which it published on its website on Sunday. The report was entitled Unlocking $5.79bn in Private Financing: The World Bank Group Is Leading the Charge for Private Capital Mobilisation in Nigeria.
The report stated that in the fiscal year 2026 the World Bank Group would be assisting in raising as much as $5.79 billion in private financing to deal with these barriers.
The initiative concerning financing stated that it would involve policy reforms, commercial investments and risk-sharing arrangements involving the World Bank, the International Finance Corporation and the Multilateral Investment Guarantee Agency.
The institution connected the investment initiative with the economic reforms introduced in Nigeria from mid-2023, especially those relating to foreign exchange management, fuel subsidies and public finances.
It pointed out that the reforms, which were being supported to some extent by its RESET and NAIJA development policy financing programmes, were leading to better conditions for private investment.
The report also stated that further reforms are intended to deepen the capital markets, expand digital trade, allow for greater private participation in electricity, and enhance competitiveness.
A key element of the programme is the Building Resilient Digital Infrastructure for Growth project, which is anticipated to draw in no less than $156 million in private equity in its first investor selection round.
Future financing rounds may release as much as $1.1 billion by 2030 for the purpose of setting up a nationwide fibre-optic network. The project is anticipated to extend broadband access to an additional 58 million Nigerians, raising the number of people covered from 92 million in 2025 to 150 million by 2030.
It will also focus on the connectivity of 38,800 public schools, 16,900 health facilities and 3,400 local government offices. In the field of agriculture the bank intends to raise $242 million through the Agricultural Value Chains for Growth project, with one million smallholder farmers being the target.
$220 million is expected to come from agribusiness companies and $22 million from certified seed producers. The Fostering Inclusive Finance for MSMEs in Nigeria programme is also expected to draw in nearly $1.89 billion in private financing and to provide support for more than 250,000 enterprises.
The programme would create about 850,000 direct and indirect jobs, and about 30 per cent of the financing from the World Bank’s lending institutions would go to women-led businesses.
The report also stated that the IFC assisted in raising $1.02bn for Dangote Industries Limited and $282.5m for Indorama Fertiliser in order to expand domestic fertiliser production.
Together, the two projects have a yearly production capacity of 6.8 million metric tonnes and are expected to improve access to agricultural inputs for more than 10 million farmers.
The IFC also backed a $1.2 billion bond issue by IHS Towers, which enabled it to draw in over $1.1 billion from private investors for telecommunications infrastructure.
The bank emphasized that the financing arrangements were designed for the purpose of encouraging more private involvement in Nigeria’s development. “All of these reforms, platforms, guarantees, and investments will help raise up to $5.79 billion in private financing in the fiscal year 2026,” it said.
The institution added that the impact would ultimately depend on improvements in infrastructure, business financing, agricultural productivity and employment opportunities.