The World Bank Group is seeking to mobilise up to $5.79 billion in private financing for Nigeria, with investments expected to support digital infrastructure, agriculture, fertiliser production and small businesses.
President Bola Tinubu welcomed the proposed financing plan on Friday, October 16, 2026, according to a report by Channels Television.
One of the major components of the initiative is the BRIDGE programme, which aims to attract up to $1.1 billion in private investment by 2030 to expand broadband infrastructure.
The programme is expected to help extend internet access to an additional 58 million Nigerians, potentially improving connectivity for households, schools and businesses.
The World Bank’s wider financing initiative also focuses on improving agricultural productivity, supporting fertiliser production and expanding access to funding for small enterprises.
These sectors are considered important to Nigeria’s economic development because they can support job creation, improve productivity and encourage private-sector participation.
For small businesses, improved access to finance and reliable digital services could create opportunities to reach more customers and operate more efficiently.
However, the impact of the proposed investment will depend on how effectively the programmes are implemented and whether the benefits reach communities and businesses that need them most.
The initiative represents a significant proposed investment in Nigeria’s development, although the targeted financing should not be confused with money already disbursed.
