Funding drive to support broadband expansion, one million farmers and more than 250,000 small businesses…..
The World Bank Group is targeting up to $5.79bn in private sector financing for Nigeria in the 2026 fiscal year, with investments expected to boost telecommunications, agriculture and small businesses while supporting the creation of about 850,000 jobs.
The initiative is designed to attract private capital into critical sectors, improve access to financing for businesses, expand digital connectivity and strengthen agricultural production.
The World Bank disclosed this in a report published on its website, 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 institution said the initiative would combine policy reforms, commercial investments and risk-sharing arrangements involving the World Bank, the International Finance Corporation and the Multilateral Investment Guarantee Agency.
It linked the planned investments to economic reforms introduced in Nigeria since mid-2023, particularly changes to foreign exchange management, fuel subsidies and public finances, which it said were helping improve conditions for private investment.
The report added that further reforms were being pursued to deepen capital markets, expand digital trade, encourage private participation in the electricity sector and improve the competitiveness of Nigerian businesses.
A major component of the programme 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 as much as $1.1bn by 2030 to support the development of a nationwide fibre-optic network.
The project aims to extend broadband access to an additional 58 million Nigerians, increasing the number of people covered from 92 million in 2025 to 150 million by 2030.
It also targets improved internet connectivity for 38,800 public schools, 16,900 healthcare facilities and 3,400 local government offices.
In agriculture, the World Bank plans to mobilise $242m through the Agricultural Value Chains for Growth project, with the aim of reaching one million smallholder farmers.
The proposed financing includes $220m expected from agribusiness companies and $22m from certified seed producers, supporting efforts to strengthen agricultural value chains and improve access to essential inputs.
Small businesses are another major focus of the investment drive.
Under the Fostering Inclusive Finance for MSMEs in Nigeria programme, the bank expects to attract nearly $1.89bn in private financing to support more than 250,000 micro, small and medium-sized enterprises.
The programme is backed by a $500m financing package from the World Bank’s lending institutions and is projected to generate approximately 850,000 direct and indirect jobs.
It also aims to direct 30 per cent of the financing towards women-led businesses, expanding their access to capital and opportunities for growth.
Beyond these programmes, the report highlighted investments facilitated by the International Finance Corporation (IFC) to expand domestic fertiliser production and strengthen Nigeria’s telecommunications infrastructure.
The IFC helped mobilise $1.02bn for Dangote Industries Limited and $282.5m for Indorama Fertiliser to support fertiliser production capacity.
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 telecommunications, 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 Group said its financing strategy was aimed at drawing more private investment into Nigeria’s development priorities by combining reforms, investment platforms and risk-sharing mechanisms to address barriers that often discourage investors.
It added that the success of the initiative would ultimately be measured by improvements in infrastructure, business financing, agricultural productivity and employment opportunities across the country.
