The World Bank Group plans to mobilise up to $5.79bn in private financing for Nigeria in the 2026 fiscal year, with the investment drive expected to support about 850,000 jobs and expand access to broadband, agricultural inputs and business credit.
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.
The financing initiative will combine policy reforms, commercial investments and risk-sharing arrangements involving the World Bank, the International Finance Corporation (IFC) and the Multilateral Investment Guarantee Agency (MIGA).
The bank attributed the investment drive partly to economic reforms introduced by the Federal Government since mid-2023, particularly changes to foreign exchange management, fuel subsidies and public finances.
It said the reforms, supported partly through its RESET and NAIJA development policy financing programmes, were helping to improve 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 of the initiative is the Building Resilient Digital Infrastructure for Growth project, which is expected to attract at least $156m in private equity during its first investor selection round.
Further financing rounds could unlock up to $1.1bn by 2030 to develop a nationwide fibre-optic network.
The project aims to extend broadband access to an additional 58 million Nigerians, increasing 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 World Bank plans to mobilise $242m through the Agricultural Value Chains for Growth project to support one million smallholder farmers.
The funding comprises $220m expected from agribusiness firms and $22m from certified seed producers.
For micro, small and medium enterprises, the Fostering Inclusive Finance for MSMEs in Nigeria programme is projected to attract nearly $1.89bn in private financing and support more than 250,000 businesses.
Backed by a $500m financing package from the World Bank’s lending institutions, the programme is expected to generate about 850,000 direct and indirect jobs. Women-led businesses are expected to receive 30 per cent of the financing.
The report also highlighted investments facilitated by the IFC, including $1.02bn mobilised for Dangote Industries Limited and $282.5m for Indorama Fertiliser to expand domestic fertiliser production.
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 supported a $1.2bn bond issuance by IHS Towers, helping attract more than $1.1bn from private investors for infrastructure development.
The World Bank said the financing arrangements were designed to increase 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,” the report stated.
It added that the eventual impact would depend on improvements in infrastructure, access to business financing, agricultural productivity and employment opportunities.
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