World Bank aims to raise $5.79bn of private money for Nigeria
The financing is meant for farmers, small businesses and a 90,000km national fibre network. Tinubu welcomed it and pointed investors to 65 projects worth $78.5bn.
Abuja — The World Bank Group plans to mobilise up to $5.79 billion in private financing for Nigeria, and President Bola Tinubu has welcomed the move, Premium Times reports.
The money is to come through World Bank-supported programmes, financing from the International Finance Corporation (IFC) and risk cover from the Multilateral Investment Guarantee Agency (MIGA).
Who it is for
According to the World Bank, the fund is designed to help:
- farmers trying to secure good seed before the planting season
- small business owners who cannot get affordable credit
- students who struggle to connect to digital classrooms
Fibre for the whole country
The financing will also support Project BRIDGE, a public-private partnership to build and operate a nationwide open-access fibre-optic network. The federal government plans to lay 90,000 kilometres of new fibre.
The World Bank expects at least $156 million in private equity from the first round of investor selection, and says later financing could unlock up to $1.1 billion of private investment by 2030.
Tinubu's invitation
In a post on X, Mr Tinubu said Nigeria had introduced reforms to build a stronger foundation for investment. He said the country has a pipeline of 65 bankable projects seeking $78.5 billion, and invited Nigerian and foreign investors to study them through Projects Nigeria.
Finance Minister Taiwo Oyedele and Central Bank Governor Olayemi Cardoso presented the opportunities at the Nigeria Investors Forum, on the sidelines of the IMF and World Bank annual meetings in Bangkok.
Source: Premium Times, reporting by Omotoyosi Idowu, 16 October 2026.
