News Investigators/ The World Bank Group says it is helping to mobilise up to 5.79 billion dollars in private financing for Nigeria in fiscal year 2026 to support infrastructure development, agriculture and small businesses.
The financing is expected to boost productivity, create jobs and expand economic opportunities for women and young people.
The group disclosed this in an article made available to the News Agency of Nigeria (NAN) on Monday in Bangkok.
The group outlined its strategy of combining policy reforms, investment platforms, commercial financing and risk guarantees to attract private capital.
“The World Bank supports reforms and projects, while the International Finance Corporation (IFC) structures investments and mobilises private investors.
“The Multilateral Investment Guarantee Agency (MIGA) provides guarantees to reduce investment risks,” it said.
The group said Nigeria had undertaken reforms since mid-2023 to improve foreign exchange management, strengthen public finances and create more predictable investment conditions.
“Supported partly by the World Bank’s RESET and NAIJA development policy financing programmes, the reforms aim to strengthen investor confidence, deepen capital markets and encourage private participation in key sectors.
“The Building Resilient Digital Infrastructure for Growth (BRIDGE) Project is expected to attract at least 156 million dollars in private equity in its first investor selection round.
“Subsequent rounds are projected to mobilise up to 1.1 billion dollars by 2030.
“The project will develop a nationwide open-access fibre-optic network through a public-private partnership, extending affordable broadband access to an additional 58 million people by 2030.
“It is also expected to connect millions of households, 38,800 public schools, 16,900 health facilities and 3,400 local government offices to high-speed internet,” it said.
It said the Agricultural Value Chains for Growth (AGROW) Project would target one million smallholder farmers, including women and young people, through improved access to quality seeds, fertiliser, digital services and markets.
The group said the project was expected to mobilise 220 million dollars from agribusiness firms and 22 million dollars from certified seed producers to improve productivity and strengthen food security.
It said the IFC separately helped to mobilise 1.02 billion dollars for Dangote Industries Limited and 282.5 million dollars for Indorama Fertiliser to support 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 fertiliser for more than 10 million smallholder farmers.”
On financing for small businesses, the group said the Fostering Inclusive Finance for MSMEs in Nigeria (FINCLUDE) programme aims to expand access to finance for more than 250,000 micro, small and medium enterprises.
It said that 30 per cent of financing is targeted at women-led businesses.
“A 500 million dollar package from the International Bank for Reconstruction and Development and the International Development Association will provide financing and risk-sharing instruments to attract additional private capital.
“The programme was expected to mobilise nearly 1.89 billion dollars in private financing and support about 850,000 direct and indirect jobs.”
On telecommunications investment, the World Bank said the IFC also served as an anchor investor in a 1.2 billion-dollar bond issuance by IHS Towers, helping mobilise more than 1.1 billion dollars from private investors.
It said the investment was expected to support telecommunications infrastructure and enable mobile network operators to expand connectivity at lower cost through tower sharing.
The World Bank Group said the coordinated approach would help use public resources to attract larger private investments in infrastructure, agriculture and small businesses.
It said the expected 5.79 billion dollars financing would support job creation, improve access to essential services and strengthen Nigeria’s private sector-led economic growth.
NAN