World Bank plans to mobilize $5.79 billion for Nigeria — Premium Times Nigeria
The World Bank Group plans to mobilize up to $5.79 billion in private financing for agriculture and digital infrastructure in Nigeria. Nigerian President Bola Tinubu said the initiative would help businesses expand operations and attract investment into the economy, Premium Times Nigeria reports.
According to Tinubu, Nigeria has introduced economic reforms intended to create a stronger foundation for investment and improve income-earning opportunities for the population.
Support for farmers, small businesses and education
According to the World Bank, the initiative is intended to help farmers seeking quality seeds ahead of the planting season, small business owners unable to access affordable credit, and students who find it difficult to connect to digital classrooms.
To attract private capital, the plan is to combine World Bank-supported programs, International Finance Corporation financing, and risk-mitigation instruments from the Multilateral Investment Guarantee Agency. The bank said this approach is intended to direct private funds into sectors important for Nigeria's growth and economic transformation.
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Fiber-optic network and investment portfolio
The initiative is also intended to support the government's Project BRIDGE, which provides for the rollout of 90,000 kilometers of new fiber-optic infrastructure and the expansion of digital connectivity across the country. The nationwide open-access network is planned to be built, owned and operated under a public-private partnership.
The World Bank expects the first round of investor selection to attract at least $156 million in private capital. Further financing could potentially unlock up to $1.1 billion in private investment by 2030.
Tinubu also said Nigeria has formed a portfolio of 65 investment-ready projects seeking $78.5 billion. According to him, Finance Minister and economic coordinator Taiwo Oyedele and Central Bank of Nigeria Governor Olayemi Cardoso presented these opportunities at the Nigeria Investors Forum in Bangkok during the 2026 IMF and World Bank Annual Meetings.
