The World Bank Group has announced plans to attract up to $5.79bn in private-sector financing for Nigeria in the 2026 fiscal year, targeting investments in telecommunications, agriculture, small businesses and other vital sectors of the economy.
The initiative is expected to widen broadband coverage, boost agricultural output, improve access to business credit and facilitate the creation of approximately 850,000 jobs.
The institution revealed 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.
According to the report, the financing strategy will combine policy reforms, commercial investments and risk-sharing mechanisms involving the World Bank, International Finance Corporation and Multilateral Investment Guarantee Agency.
The bank attributed the investment drive to economic reforms introduced in Nigeria since mid-2023, particularly adjustments to foreign exchange management, petrol subsidies and public finances.
It observed that the reforms, partly supported by its RESET and NAIJA development policy financing programmes, were helping to create a more favourable environment for private-sector investment.
“Further reforms aim to deepen capital markets, expand digital trade, enable greater private participation in electricity, and improve competitiveness,” the report added.
One of the major projects under the initiative is the Building Resilient Digital Infrastructure for Growth programme, which is expected to attract at least $156m in private equity during its first round of investor selection.
Additional rounds of financing could generate up to $1.1bn by 2030 for the development of a nationwide fibre-optic network. The project aims to provide broadband access to another 58 million Nigerians, increasing the number of people covered from 92 million in 2025 to 150 million by 2030.
The initiative also targets internet connectivity for 38,800 public schools, 16,900 healthcare facilities and 3,400 local government offices.
In the agricultural sector, the World Bank plans to mobilise $242m through the Agricultural Value Chains for Growth project, which is designed to support one million smallholder farmers.
The funding is expected to comprise $220m from agribusiness companies and $22m from certified seed producers.
For small and medium-sized enterprises, the Fostering Inclusive Finance for MSMEs in Nigeria programme is projected to attract nearly $1.89bn in private investment and provide support to more than 250,000 businesses.
Supported by a $500m financing package from the World Bank’s lending institutions, the programme is expected to create about 850,000 direct and indirect jobs, with women-owned businesses set to receive 30 per cent of the financing.
The report further revealed that the International Finance Corporation helped secure $1.02bn for Dangote Industries Limited and $282.5m for Indorama Fertiliser to expand fertiliser production within Nigeria.
The two projects have a combined annual production capacity of 6.8 million metric tonnes and are expected to improve access to agricultural inputs for more than 10 million farmers.
In the telecommunications sector, the IFC also supported a $1.2bn bond issuance by IHS Towers, helping the company attract over $1.1bn from private investors to finance telecommunications infrastructure.
The World Bank emphasised that the various financing arrangements were designed to encourage increased private-sector participation in Nigeria’s economic 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 noted that the overall success of the initiative would depend on improvements in infrastructure, access to business financing, agricultural productivity and employment opportunities.
