The World Bank says it will help Nigeria mobilise up to $5.79 billion in private financing in 2026, targeting broadband infrastructure, agriculture and small businesses to boost investment, productivity and job creation.
In a feature published on October 11, the global lender said the financing would combine investment projects, policy reforms, commercial lending and guarantees to attract private capital.
The World Bank said reforms introduced since mid-2023 to improve foreign exchange management, strengthen public finances and reform fuel subsidies were helping create more predictable conditions for investors.
It added that further reforms would focus on deepening capital markets, expanding digital trade, encouraging private participation in electricity and improving competitiveness.
World Bank Targets $1.89bn for Small Businesses
The Bretton Woods institution said its Fostering Inclusive for MSMEs in Nigeria (FINCLUDE) programme is expected to mobilise $1.89 billion in private financing for more than 250,000 micro, small and medium enterprises (MSMEs).
The programme is backed by a $500 million package from the International Bank for Reconstruction and Development and the International Development Association.
According to the World Bank, 30 per cent of the financing will target women-led businesses, while the programme is expected to support 850,000 direct and indirect jobs.
Broadband Project Targets $1.1bn Investment
The lender said its Building Resilient Digital Infrastructure for Growth (BRIDGE) project could attract up to $1.1 billion in private investment by 2030 to develop a nationwide open-access fibre-optic network.
The first investor-selection round is expected to mobilise at least $156 million in private equity.
The project aims to extend affordable broadband access to an additional 58 million people, increasing coverage from 92 million in 2025 to 150 million by 2030.
The World Bank said the network is also expected to connect 38,000 public schools, 16,900 health facilities and 3,400 local government offices.
World Bank Mobilises Funding for Fertiliser Production
The institution said the International Finance Corporation (IFC) helped mobilise $1.02 billion for Dangote Industries Limited through refinancing involving development institutions and commercial lenders.
The IFC also mobilised $282.5 million for Indorama Fertiliser through syndicated financing.
The two projects have a combined annual production capacity of 6.8 million metric tonnes and are expected to improve fertiliser access for more than 10 million smallholder farmers, according to the World Bank.
The lender added that its Agricultural Value Chains for Growth (AGROW) project targets one million smallholder farmers, including women and young people.
AGROW is expected to mobilise about $220 million from agribusiness firms and a further $22 million from certified seed producers.
IFC Backs $1.2bn IHS Towers Bond
The World Bank said the IFC served as an anchor investor in a $1.2 billion bond issuance by IHS Towers, helping mobilise more than $1.1 billion from private investors.
The institution explained that the World Bank supports reforms and projects aimed at improving investment conditions, while the IFC structures investments and attracts commercial lenders and institutional investors.
It added that the Multilateral Investment Guarantee Agency provides guarantees to reduce risks that could discourage investors.
The World Bank said the coordinated approach is designed to use public resources to attract larger pools of private capital, supporting infrastructure development, productivity and job creation in Nigeria.
