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World Bank plans major boost for electricity and internet access in Nigeria
The World Bank has unveiled a new Country Partnership Framework aimed at expanding electricity and broadband access in Nigeria. The plan targets connecting millions of Nigerians to power and the internet, while also supporting farmers and small businesses. Taimur Samad, Acting Country Director for the World Bank, presented the framework in Lagos. The initiative focuses on job creation, private-sector growth, and mobilising private capital for key sectors.
TLDR
- The World Bank aims to connect 32 million Nigerians to electricity and provide 58 million more people with broadband internet under its new framework.
- 9.5 million farmers are targeted to benefit from improved agricultural production, value addition, and market linkages.
- The framework includes plans to mobilise $4.1bn in private capital for infrastructure and agribusiness.
- Programmes will focus on distributed renewable energy, broadband infrastructure, and access to finance for micro, small, and medium enterprises.
- The World Bank currently has an active $15.9bn portfolio in Nigeria, involving 30 projects, with a focus on resilience, climate adaptation, and private-sector-led growth.
