RismadarVoice Reporters
October 15, 2026
The World Bank Group has outlined plans and financing arrangements aimed at mobilising $5.79 billion in private capital for Nigeria’s agriculture, telecommunications and micro, small and medium enterprises (MSMEs).
The initiative is designed to attract private investment, expand access to business financing, strengthen food security, improve digital connectivity and support job creation across the country.
According to the institution, the investments are being supported through policy reforms, commercial financing, risk-sharing arrangements and partnerships involving development finance institutions and private investors.
The World Bank Group explained that its approach combines government-backed reforms with investment opportunities structured by the International Finance Corporation (IFC), its private-sector investment arm.
In agriculture, the institution highlighted financing arrangements involving Dangote Industries Limited and Indorama Fertiliser aimed at strengthening domestic fertiliser production and improving access to agricultural inputs.
The IFC helped mobilise $1.02 billion for Dangote through refinancing arrangements involving development finance institutions and commercial lenders.
It also facilitated $282.5 million in syndicated financing for Indorama.
According to the World Bank Group, the two fertiliser operations have a combined annual production capacity of 6.8 million metric tonnes, with the potential to improve access to agricultural inputs for more than 10 million smallholder farmers.
The institution said increased domestic production could help reduce dependence on imported agricultural inputs and strengthen Nigeria’s food security.
For small businesses, the World Bank Group identified its Fostering Inclusive Finance for MSMEs in Nigeria programme, known as FINCLUDE, as a major intervention to address limited access to affordable financing.
The programme is expected to improve financing opportunities for more than 250,000 businesses, with 30 per cent of the financing earmarked for women-led enterprises.
Supported by a $500 million financing package from the International Bank for Reconstruction and Development and the International Development Association, FINCLUDE combines funding and risk-sharing mechanisms to encourage additional private-sector lending.
The institution projects that the programme could mobilise approximately $1.89 billion in private financing and support an estimated 850,000 direct and indirect jobs.
It explained that improved access to credit would enable businesses to invest in equipment, expand operations and create employment opportunities.
In telecommunications, the IFC participated as an anchor investor in a $1.2 billion bond issuance by IHS Towers, helping attract more than $1.1 billion from private investors.
The financing supports investment in telecommunications infrastructure, including infrastructure-sharing arrangements that enable mobile network operators to expand coverage without independently constructing every facility.
The World Bank Group also highlighted its Building Resilient Digital Infrastructure for Growth (BRIDGE) Project, which seeks to expand broadband connectivity through public-private partnerships.
Under the project, a nationwide open-access fibre-optic network is expected to be developed and operated with private-sector participation.
The first phase of investor selection is projected to attract at least $156 million in private equity, while subsequent investment rounds could generate up to $1.1 billion by 2030.
The institution estimates that the project could extend broadband access to an additional 58 million Nigerians, increasing the population covered from 92 million in 2025 to 150 million by 2030.
Projected beneficiaries include 42 million additional young people and 15 million women.
The project also targets improved connectivity for 38,800 public schools, 16,900 healthcare facilities and 3,400 local government offices.
According to the World Bank Group, expanding digital infrastructure would strengthen access to education, healthcare and government services while creating opportunities for businesses operating in the digital economy.
The institution linked the investment outlook partly to reforms in Nigeria’s foreign exchange system, public finances and fuel subsidy arrangements.
It maintained that improved policy conditions, alongside investment structures designed to reduce commercial risks, could encourage greater participation by domestic and international investors.
Although the $5.79 billion figure covers investment mobilisation efforts and projected private financing, some of the identified projects remain dependent on future investor participation and implementation.
The World Bank Group said continued reforms and effective project execution would be important to translating the financing opportunities into measurable economic benefits, including improved infrastructure, business expansion and employment generation.
