The World Bank Group has announced a major initiative to help mobilise $5.79 billion in private capital for targeted investments across Nigeria’s agriculture, telecommunications, and micro, small, and medium enterprise (MSME) sectors.

The multi-billion-dollar effort leverages policy reforms, risk-sharing mechanisms, and commercial financing to broaden private sector participation, strengthen national food security, expand high-speed broadband access, and unlock affordable credit for small businesses.

According to the World Bank, recent economic reforms by the federal government, including foreign exchange adjustments and subsidy restructuring, have created a more predictable environment for international and local investors.

Sector-by-Sector Capital Breakdown

1. Agriculture & Food Security ($1.3bn Mobilised):

Through the International Finance Corporation (IFC), $1.02 billion was mobilised for Dangote Industries Limited and $282.5 million for Indorama Fertilizer.

Impact: The combined production capacity of 6.8 million metric tonnes annually aims to reduce reliance on imported fertilisers and support over 10 million smallholder farmers across Nigeria.

2. Small Business & Inclusive Finance ($1.89bn Target)

Backed by a $500 million package from the International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA), the Fostering Inclusive Finance for MSMEs in Nigeria initiative is designed to unlock nearly $1.89 billion in private financing.

Target Audience: The programme aims to reach over 250,000 MSMEs, reserving 30 percent specifically for women-led businesses, while supporting up to 850,000 direct and indirect jobs.

3. Digital Infrastructure & Telecoms ($2.6bn Development Pipeline)

The IFC acted as an anchor investor in IHS Towers' $1.2 billion bond issuance, helping mobilise over $1.1 billion from private institutional investors.

BRIDGE Project (Public-Private Partnership): The Building Resilient Digital Infrastructure for Growth initiative will construct a nationwide open-access fibre-optic network via private equity.

Expansion Goals: An initial $156 million private equity round aims to unlock up to $1.1 billion by 2030, expanding broadband coverage from 92 million to 150 million people, while connecting 38,800 public schools, 16,900 health facilities, and 3,400 local government offices.

ID