Nigeria seeks $500m World Bank loan for infrastructure financing platform

The federal government has asked the World Bank for a $500 million loan to set up a platform to attract private investment into Nigerian infrastructure.
The loan
According to a World Bank project document updated on 4 November 2026 and reported on Monday, 9 November, the facility is part of a broader $3.85 billion programme called the Nigeria Infrastructure Financing and De-Risking Platform for Growth and Jobs, or INFRAGROW. The Federal Ministry of Finance is listed as the borrower and the Nigeria Sovereign Investment Authority (NSIA) as the implementing agency. The aim is to reduce the risks that discourage private investors from funding infrastructure projects.
Why the bank says it is needed
The World Bank estimates that Nigeria has an infrastructure financing gap of about $100 billion a year, which holds back growth, competitiveness and job creation. It says the problem is not only a lack of money but also weak project preparation and difficulty turning proposals into commercially viable investments.
Background
The request comes as President Bola Tinubu also seeks Senate approval for about $7.7 billion in new external borrowing, and as government borrowing becomes a major campaign issue. NDC candidate Peter Obi has challenged the President to account for loans, while the Presidency says claims that it has borrowed ₦120 trillion are distorted. The World Bank reported last week that Nigeria's total external debt rose to about $145 billion in 2025.
- The $500m loan is part of a $3.85bn programme.
- The NSIA would run the platform.
- Borrowing is a major campaign issue.


