President Bola Tinubu has said that the World Bank Group's plan to raise about $5.79 billion in private funding for Nigeria will help boost business growth and attract more investment to the economy.
The president praised the World Bank's initiative in a post on X on Friday. He pointed out that Nigeria has started economic reforms to create a stronger base for investment and give more Nigerians a chance to earn better lives.
“I welcome the World Bank Group’s work to mobilise up to $5.79 billion in private financing for Nigeria. This partnership supports our efforts to help businesses expand and attract investment into agriculture and digital infrastructure,” Mr Tinubu said.
The World Bank Group announced the financing goal in a report published on Sunday. They said the fund aims to help farmers secure quality seeds before the planting season, support small business owners who cannot access affordable loans, and assist students struggling with online learning.
The Bretton Woods institutions said the fund will also support Project BRIDGE. This project will help Nigeria use a public-private partnership to build, own, and run a nationwide open-access fibre-optic network.
Project BRIDGE is a Federal Government initiative that plans to deploy 90,000 kilometres of new fibre-optic infrastructure across Nigeria. This will improve digital connectivity across the country.
The bank explained that by combining policy changes, investment platforms, risk management, and commercial funding, it is guiding private money toward sectors that are key to Nigeria’s growth and economic change.
The $5.79 billion initiative aims to draw private investment through a mix of World Bank-supported programs, financing from the International Finance Corporation, and risk-mitigation tools from the Multilateral Investment Guarantee Agency.
The project is also expected to attract at least $156 million in private equity in its first investor-selection round. This could lead to up to $1.1 billion in private investments by 2030.
In his comments on Friday, Mr Tinubu said Nigeria has taken another step by putting together a list of 65 bankable projects that are looking for $78.5 billion in investments.
He noted that Minister of Finance and Coordinating Minister of the Economy Taiwo Oyedele shared these opportunities with Central Bank of Nigeria Governor Olayemi Cardoso at the Nigeria Investors Forum during the 2026 IMF-World Bank Annual Meetings in Bangkok.
“I invite Nigerian and international investors to examine these projects and engage directly with their sponsors through Projects Nigeria,” the president said.
Mr Tinubu also mentioned that his administration will work with investors and Nigerians to tackle challenges and drive successful investments, creating jobs and expanding opportunities for Nigerians.
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