AfDB Commits $2.95 Billion to Nigeria Under New 2025–2030 Strategy

The African Development Bank (AfDB) has unveiled a new Country Strategy Paper (CSP) for Nigeria, charting a five-year roadmap (2025–2030) that will see the Bank commit $650 million annually—amounting to $2.95 billion in the first four years. The investment, backed by an estimated $3.21 billion in co-financing, aims to accelerate inclusive growth, climate-smart infrastructure, and economic transformation.

The strategy will focus on two core areas: promoting sustainable infrastructure to drive competitiveness and industrial development, and advancing inclusive green growth through gender- and youth-centered industrialization. These efforts are designed to help Nigeria close its staggering $2.3 trillion infrastructure gap and support its vision to double the economy to $1 trillion, while generating over 1.5 million new jobs.

Targeted Impact Across Agriculture, Energy, and SMEs

To ensure broad-based prosperity, the strategy will fund roads, power, water systems, and agribusiness initiatives that particularly benefit women, youth, and small businesses. Nigeria’s development goals, including Agenda 2050 and the Renewed Hope Agenda, are central to the Bank’s investment blueprint.

The strategy also supports Nigeria’s push to leverage the African Continental Free Trade Area (AfCFTA), with enhanced energy access, better transportation links, and increased market access for farmers and entrepreneurs. Millions are expected to benefit from supply chain improvements, training programs, and improved access to finance.

Inclusive Growth and Climate Resilience at the Core

Under initiatives like the Affirmative Finance Action for Women in Africa (AFAWA), women-led businesses will receive dedicated support, while youth-focused training programs aim to tackle unemployment and build a future-ready workforce.

“This strategy takes a transformative partnership between the Bank and Nigeria to a new level,” said Abdul Kamara, Director General of the AfDB’s Nigeria Office. “We are not only building roads and power systems—we are building pathways to prosperity for millions of Nigerians.”

The strategy also prioritizes environmental resilience—supporting infrastructure and agricultural systems that can withstand climate shocks like flooding and drought, while easing conflicts and securing long-term food systems.