World Bank Targets $5.79bn in Private Financing For Nigeria, Eyes 850,000 Jobs

The World Bank Group says it is helping mobilise up to $5.79 billion in private financing for Nigeria in the 2026 fiscal year, targeting critical sectors including digital infrastructure, agriculture and small-business development.

The initiative, outlined in a report published on October 11, 2026, titled Unlocking $5.79 Billion in Private Financing: The World Bank Group Is Leading the Charge for Private Capital Mobilization in Nigeria, is designed to attract private investment through policy reforms, commercial financing, investment partnerships and risk-sharing mechanisms.

According to the global financial institution, the strategy aims to address infrastructure gaps, improve access to finance, strengthen agricultural value chains and create more employment opportunities.

The World Bank Group attributed the investment drive partly to economic reforms introduced in Nigeria since mid-2023, including changes to foreign-exchange management, public finances and fuel subsidies, which it said were helping establish more predictable conditions for investors.

Further reforms are expected to deepen capital markets, expand digital trade, encourage private participation in electricity and improve the country's competitiveness.

Digital Infrastructure Set for Major Investment

A significant component of the financing initiative is the Building Resilient Digital Infrastructure for Growth (BRIDGE) Project, which aims to accelerate broadband deployment through a nationwide open-access fibre-optic network.

The project is expected to attract at least $156 million in private equity during its first investor-selection round, with subsequent financing rounds potentially unlocking up to $1.1 billion in private investment by 2030.

The initiative aims to extend affordable broadband access to an additional 58 million people, increasing coverage from 92 million Nigerians in 2025 to approximately 150 million by 2030.

It also targets connectivity for 38,800 public schools, 16,900 healthcare facilities and 3,400 local government offices, potentially expanding access to digital education, healthcare and public services.

The project is expected to strengthen Nigeria's digital economy by supporting wider connectivity, improving access to online services and creating opportunities for technology businesses.

$1.89bn Targeted at Small Businesses
The World Bank Group is also looking to mobilise nearly $1.89 billion in private financing through its Fostering Inclusive Finance for Micro, Small and Medium Enterprises in Nigeria (FINCLUDE) programme.

The initiative targets more than 250,000 micro, small and medium-sized enterprises, particularly businesses operating in sectors with significant employment potential.

Backed by a $500 million financing package from the International Bank for Reconstruction and Development and the International Development Association, the programme is expected to support approximately 850,000 direct and indirect jobs.

About 30 per cent of the financing is targeted at women-led businesses, reflecting the programme's focus on expanding access to capital for underserved enterprises.

The initiative is intended to encourage financial institutions and other investors to extend financing to businesses that face difficulties obtaining affordable credit.

Agriculture to Attract Additional Private Capital Agriculture is another priority under the World Bank Group's financing strategy.

Through its Agricultural Value Chains for Growth (AGROW) Project, the institution aims to reach one million smallholder farmers, including women and young people, by strengthening agricultural inputs, improving digital platforms and expanding access to markets.

The project is expected to mobilise approximately $242 million, comprising $220 million from agribusiness firms and $22 million from certified seed producers.

The World Bank Group is also supporting investments in domestic fertiliser production through financing arrangements involving Dangote Industries and Indorama Fertilizer.

The two projects have a combined annual production capacity of approximately 6.8 million metric tonnes and are expected to improve fertiliser access for more than 10 million smallholder farmers.

The World Bank Group's financing strategy combines the roles of its key institutions.

While the World Bank supports policy reforms and development projects, the International Finance Corporation helps structure investments and mobilise commercial financing. 

The Multilateral Investment Guarantee 

Agency provides guarantees designed to reduce investment risks and encourage private-sector participation.

The approach is intended to use development financing and policy improvements to attract additional private capital into sectors where investment gaps remain significant.

However, the projected $5.79 billion represents financing the World Bank Group is helping to mobilise through a combination of existing investments, ongoing initiatives and anticipated private-sector commitments. It should not be interpreted as a single new loan or grant to the Nigerian government.

Ultimately, the impact of the financing drive will depend on how effectively the investments translate into improved infrastructure, stronger businesses, increased agricultural productivity and sustainable employment.

For Nigeria, the challenge will be to convert the anticipated capital into tangible economic opportunities, particularly for small businesses, farmers, technology enterprises, women and young people.

Why It Matters

The proposed financing could accelerate Nigeria's broadband expansion, improve credit access for businesses and strengthen agricultural productivity. For the technology sector, the BRIDGE Project is particularly significant, with the potential to attract up to $1.1 billion in private investment towards nationwide fibre infrastructure by 2030.