World Bank Spends $16 Billion in 28 Projects Across Nigeria

The World Bank has announced that it has invested over $16 billion in the country across 28 active projects.

The financial institution made this known in a statement released on Saturday, highlighting its efforts to help Nigeria address its most pressing development priorities.

According to the World Bank, the investments are primarily being made through concessional financing from the International Development Association (IDA) and the International Bank for Reconstruction and Development (IBRD). The funds are targeted at expanding access to essential services such as electricity, education, and healthcare, as well as promoting gender inclusion and economic opportunities for women, and improving food security through enhanced agricultural productivity.

As part of its efforts to deepen its partnership with Nigeria, the World Bank’s Regional Vice President for Western and Central Africa, Mr. Ousmane Diagana, is scheduled to visit the country from April 14 to 17, 2025. During his four-day visit, Diagana will hold high-level meetings with key government officials, including Vice President Kashim Shettima, to discuss Nigeria’s economic recovery, job creation, and investments in human capital.

Diagana’s visit will also include consultations with several cabinet members, including the Minister of Finance, Wale Edun; the Minister of Budget and Economic Planning, Senator Abubakar Bagudu; the Minister of Power; the Minister of Humanitarian Affairs; the Minister of Health; and the Minister of Communications and Digital Economy. A central theme of these engagements will be the financing of Nigeria’s energy sector, with a focus on strengthening financial flows into the power sector and attracting private sector participation.

The World Bank executive will also participate in a roundtable with key stakeholders to discuss ways to address Nigeria’s significant infrastructure deficit in the energy sector. Reliable and affordable electricity remains one of the country’s most pressing challenges, with implications for industrialization, job creation, and service delivery.

In addition to his meetings in Abuja, Diagana will travel to Kaduna, where he will be received by Governor Uba Sani at the Kashim Ibrahim Government House.

While in Kaduna, he will tour World Bank-financed project sites to observe progress firsthand and interact with communities and beneficiaries of these interventions.

The World Bank’s commitment to Nigeria is a significant boost to the country’s development efforts, and Diagana’s visit is expected to further strengthen the partnership between the two entities. As Nigeria continues to navigate its economic recovery, the World Bank’s support will be crucial in addressing the country’s development challenges and promoting sustainable growth.