The World Bank Group has unveiled plans to mobilise up to $5.79 billion in private financing for Nigeria, with the aim of supporting small businesses, expanding broadband access and boosting agriculture. The plan is expected to help create about 850,000 direct and indirect jobs.
President Bola Tinubu welcomed the plan on Friday, October 16, and invited Nigerian and international investors to put money into the country.
Not a New Government Loan
It is important to understand what the figure means. The $5.79 billion is not a single loan to the Nigerian government. It is a combination of private investment the World Bank Group aims to attract into Nigeria, alongside some existing World Bank loans that are designed to draw in private money. Some of the amounts are targets to be reached over several years.
Where the Money Will Go
1. Small Businesses: $1.89bn (FINCLUDE)
The largest share targets micro, small and medium-sized enterprises (MSMEs). The FINCLUDE programme aims to mobilise nearly $1.89 billion in private financing for more than 250,000 small businesses in sectors that employ many people. It includes a $500 million package from the World Bank’s lending arms, and at least 30% is set aside for women-led businesses. This programme is linked to the 850,000-jobs target.
2. Broadband Internet: Up to $1.1bn (BRIDGE)
The BRIDGE digital infrastructure programme aims to attract up to $1.1 billion by 2030. The first round alone is expected to bring in at least $156 million in private equity.
The goal is to extend broadband coverage from 92 million Nigerians in 2025 to 150 million by 2030, adding 58 million people. Plans include connecting about 38,800 public schools, 16,900 health facilities and 3,400 local government offices. The project is expected to benefit 42 million young people and 15 million women.
3. Agriculture: One Million Farmers
Under the AGROW project, the World Bank aims to support one million smallholder farmers, with about $220 million expected from agribusinesses and $22 million from certified seed producers.
The World Bank’s private-sector arm, the IFC, has also helped mobilise $1.02 billion for Dangote Industries and $282.5 million for Indorama Fertilizer. Together, their fertiliser capacity of 6.8 million tonnes a year is expected to support more than 10 million smallholder farmers.
4. Telecoms
The IFC was also an anchor investor in a $1.2 billion bond by IHS Towers, helping to bring in more than $1.1 billion from private investors.
Tinubu Pitches $78.5bn in Projects
In a post on his verified X account, Tinubu said the plan supports his government’s efforts to help businesses grow and to attract investment into agriculture and digital infrastructure. He said his administration would help clear obstacles so that viable investments move quickly into execution, and that his economic reforms are meant to build a stronger foundation for investment and better livelihoods.
Separately, at the Nigeria Investors Forum on the sidelines of the 2026 IMF–World Bank Annual Meetings in Bangkok, Finance Minister Taiwo Oyedele and Central Bank Governor Olayemi Cardoso presented 65 “bankable” projects seeking $78.5 billion in investment.
Tinubu directed interested investors to the government’s Projects Nigeria portal at finance.gov.ng/projectsnigeria.
What It Means for Nigerians
If the targets are met, small business owners could find it easier to access loans, more schools and clinics could get internet access, and farmers could receive better seeds and fertiliser.
For Nigerians in the diaspora, the Projects Nigeria portal and the push for private capital offer a route to invest at home in sectors such as agriculture, technology and infrastructure. As always, investors should do careful research before committing money.
The key test will be delivery. Mobilisation targets depend on private investors actually committing funds, and on the government removing the barriers that have held back investment in the past.
Sources: Nairametrics, ThisDay and Channels Television.