World Bank financing targets $5.79 billion for Nigeria, supporting small businesses, broadband expansion, agriculture and job creation. The initiative seeks to bring more private investors into the country by combining economic reforms, commercial financing and measures that reduce investment risks.
According to a report published by the World Bank Group on October 11, 2026, the strategy aims to address major funding and infrastructure gaps that limit business expansion and productivity. Through this approach, the institution hopes to encourage private capital to support projects that create jobs, improve essential services and strengthen Nigeria’s economy. However, the $5.79 billion represents a financing target, rather than money already fully disbursed.
World Bank Financing Targets Small Businesses
Small businesses remain a major focus of the financing drive because many struggle to obtain affordable loans for expansion, equipment and daily operations. To address this challenge, the World Bank Group is supporting the Fostering Inclusive Finance for Micro, Small and Medium Enterprises in Nigeria programme, known as FINCLUDE.
The programme aims to expand access to finance for more than 250,000 micro, small and medium-sized enterprises across Nigeria. In addition, it is expected to mobilise nearly $1.89 billion in private financing and support approximately 850,000 direct and indirect jobs.
Women entrepreneurs are also expected to benefit from the initiative, with women-led businesses targeted to receive 30 per cent of the financing. To achieve these objectives, the programme will combine funding with risk-sharing mechanisms that encourage financial institutions to lend to businesses that might otherwise struggle to secure credit.
Broadband Expansion Attracts Private Investors
Beyond business financing, the World Bank Group is supporting efforts to improve Nigeria’s digital infrastructure through the Building Resilient Digital Infrastructure for Growth project, known as BRIDGE.
The project aims to develop a nationwide fibre-optic network through a public-private partnership, reducing reliance on public funding alone. According to the World Bank, the project could attract up to $1.1 billion in private investment by 2030.
Furthermore, the initiative aims to extend affordable broadband access to an additional 58 million people, potentially improving internet access for households, businesses, schools and healthcare facilities. As connectivity improves, more Nigerians could access digital education, online services and business opportunities. Better internet infrastructure could also help companies operate more efficiently and reach customers beyond their immediate locations.
Agriculture Remains a Key Investment Priority
Agriculture is another important part of the World Bank financing strategy, particularly because farmers often face difficulties obtaining quality seeds, fertilisers, modern farming services and reliable markets.
Through the Agricultural Value Chains for Growth project, known as AGROW, the World Bank Group aims to reach one million smallholder farmers while attracting additional investment into agricultural businesses. The programme is expected to mobilise approximately $220 million from agribusiness firms and another $22 million from certified seed producers.
Consequently, the initiative could help strengthen agricultural supply chains, improve farm productivity and increase access to essential farming inputs. If these efforts deliver their intended results, farmers and agribusinesses could benefit from stronger market connections and improved production capacity. These developments could also contribute to Nigeria’s food security goals.
Economic Reforms Could Encourage Further Investment
The World Bank Group’s strategy also builds on economic reforms introduced in Nigeria since mid-2023, including changes to foreign-exchange management, public finances and fuel subsidies. These reforms aim to create a more predictable environment for businesses and investors.
The institution is working through different parts of its group to support this effort. The World Bank supports policy reforms and development projects, while the International Finance Corporation provides commercial investment and helps attract other lenders. Meanwhile, the Multilateral Investment Guarantee Agency offers guarantees that can reduce certain risks faced by investors.
Ultimately, the impact of the $5.79 billion financing target will depend on how effectively investments reach businesses, farmers and infrastructure projects. If the programmes achieve their objectives, they could improve access to credit, expand broadband connectivity and create employment opportunities. For Nigeria, the broader challenge will be turning investment commitments into lasting economic benefits for businesses and communities.
