The World Bank says it will help Nigeria mobilise up to $5.79 billion in private financing in 2026, with investments spanning broadband, agriculture and small businesses.
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 group 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.
World Bank said further reforms would focus on deepening
capital markets, expanding digital trade, enabling private participation in
electricity and improving competitiveness.
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.
The group said the programme is backed by $500 million
package from the International Bank for Reconstruction and Development and the
International Development Association.
World Bank said 30 percent of the financing is targeted at
women-led businesses, and the programme is expected to support 850,000 direct
and indirect jobs.
The financial institution also said its Building Resilient
Digital Infrastructure for Growth (BRIDGE) project could attract up to $1.1
billion in private investment by 2030 for a nationwide open-access fibre-optic
network.
World Bank said the first investor-selection round is
expected to mobilise at least $156 million in private equity.
The lender said 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.
World Bank said the network is also expected to connect
38,000 public schools, 16,900 health facilities and 3,400 local government
offices.
The institution said the International Finance Corporation
(IFC) helped mobilise $1.02 billion for Dangote Industries Limited through
refinancing from development institutions and commercial lenders.
World Bank said the IFC also mobilised $282.5 million for
Indorama Fertiliser through syndicated financing.
According to the World Bank, 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.
The Bretton Woods institution said its Agricultural Value
Chains for Growth (AGROW) project targets one million smallholder farmers,
including women and young people.
World Bank said 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 BOND’
The Bretton Woods institution 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.
World Bank said it supports reforms and projects that
improve investment conditions, while the IFC structures investments and brings
in commercial lenders and institutional investors.
The global lender said the multilateral investment guarantee
agency provides guarantees to reduce risks that could deter investors.
World Bank added that the coordinated approach was intended
to use public resources to attract larger pools of private capital and support
infrastructure, productivity and job creation.
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