World Bank Group Mobilizes $5.79 Billion for Nigerian Private Sector Investments

The World Bank Group announced mobilization of $5.79 billion in private capital for agriculture, telecommunications, and micro, small, and medium enterprises (MSMEs) in Nigeria. This initiative aims to boost private-sector participation in the economy through targeted investments.

IFC contributed to this effort by structuring investments and deploying capital to attract commercial lenders and institutional investors. The institution mobilized $1.02 billion for Dangote Industries Limited’s fertilizer production and $282.5 million for Indorama Fertilizer’s operations.

The World Bank Group emphasized that these investments support domestic fertilizer production and agricultural inputs for over 10 million smallholder farmers. The initiative also targets food security, financial access for small businesses, digital connectivity, and job creation.