World Bank Mobilizes $5.79 Billion in Private Financing for Nigeria

The World Bank Group is mobilizing up to $5.79 billion in private financing for Nigeria in the 2026 fiscal year to support telecommunications, agriculture, and small businesses. The initiative utilizes risk-sharing arrangements and commercial investments through the International Finance Corporation and the Multilateral Investment Guarantee Agency.

Key projects include the BRIDGE project, which aims to attract $1.1 billion by 2030 to expand broadband access to 150 million people, and the FINCLUDE programme, targeting $1.89 billion to support 250,000 small and medium enterprises and create 850,000 jobs. The bank also targets $242 million for smallholder farmers through the AGROW project. Previous efforts include mobilizing $1.02 billion for Dangote Industries Limited and supporting a $1.2 billion bond for IHS Towers.

During the IMF and World Bank Annual Meetings in Bangkok on October 12, 2026, World Bank Group President Ajay Banga met with Nigerian Finance Minister Taiwo Oyedele and Central Bank Governor Olayemi Cardoso. Banga noted that private capital inflows to Nigeria rose to nearly $6 billion in 2026, up from $300 million in 2023. Minister Oyedele reported that Nigeria's tax-to-GDP ratio increased from 7% to 12.5%, reducing the need for deficit monetization. The World Bank linked this investment surge to Nigerian government reforms regarding foreign exchange and fuel subsidies implemented since mid-2023.