World Bank Group disclosed plans to raise $5.79 billion in private funds for Nigeria to support telecommunications, agriculture, and small businesses.
The World Bank Group, which stands as the largest official lender to the Federal Republic of Nigeria, has officially announced ambitious plans to help gather and raise $5.79 billion in private business investments for the Nigerian economy during the 2026 financial year.
The international financial institution made this disclosure on Sunday, October 11, 2026, through a special economic update published on its official website.
According to the global bank, the huge funds will be gathered from private business investors, global finance companies, and international commercial partners to help fix broken public infrastructure, support local farmers, expand high-speed internet networks, and create new job opportunities across all states.
Explaining why the international financial organization is shifting its strategy toward bringing in private money rather than giving regular government loans, the World Bank noted that ordinary citizens face daily struggles that cannot be solved by government money alone.
Highlighting the everyday struggles facing local citizens and why private business capital is needed, the World Bank stated: “For a farmer trying to secure quality seed before the planting season, a small business owner unable to obtain affordable credit, or a student struggling to connect to a digital classroom, Nigeria’s infrastructure and financing gaps are not abstract challenges.”
The institution explained that to turn these difficulties into opportunities for young people and traders, big international organizations must work together to lower business risks and make it easy for private companies to invest.
Detailing the exact amount of private capital it aims to attract into the Nigerian economy, the official report stated: “In fiscal year 2026, the World Bank Group is helping mobilize up to $5.79 billion in private financing to address these barriers.”
The bank added: “By combining policy reform, investment platforms, risk mitigation, and commercial financing, the Group is channeling private capital toward sectors central to Nigeria’s growth and economic transformation.”
One major area where this private money will be used is the digital and telecommunications sector through a special program named the Building Resilient Digital Infrastructure for Growth, simply called the BRIDGE Project.
Instead of using government money to lay underground cables, the project will bring private telecom companies together to construct an open nationwide fiber-optic internet network.
Explaining how the internet project will bring cheap broadband connections to millions of citizens, the World Bank noted: “The first round of investor selection is expected to mobilize at least $156 million in private equity, while subsequent financing rounds could unlock up to $1.1 billion in private investment by 2030.”
It added: “BRIDGE will bring affordable broadband access to an additional 58 million people, expanding coverage from 92 million people in 2025 to 150 million by 2030.”
The bank noted that the fast internet project will connect 38,800 public schools, 16,900 health centers, and 3,400 local government offices across the country.
Another vital area receiving massive support is agriculture through the Agricultural Value Chains for Growth program, known as AGROW.
This scheme targets one million smallholder farmers by helping them get superior seeds, good fertilizers, and direct links to crop buyers.
Detailing the money coming into farming, the bank noted: “AGROW is expected to mobilize approximately $220 million from agribusiness firms and a further $22 million from certified seed producers.”
Economic experts have welcomed the plan, noting that attracting private investments will reduce government borrowing and boost national productivity.
Jennifer Baba is a journalist, international news correspondent, and writer at Moderncrux, where she covers artificial intelligence, fintech, emerging technologies, global politics, and international affairs. Based in Nigeria, she is passionate about transforming complex global developments into clear, engaging stories that inform and inspire readers.
