Nigeria seeks World Bank guarantees for infrastructure financing

The Nigerian Federal Government has entered discussions with the World Bank Group to secure additional financing support for infrastructure development, with a specific focus on the power sector.

During meetings held on the sidelines of the 2026 International Monetary Fund and World Bank Group Annual Meetings in Bangkok, Thailand, Nigerian officials explored the use of World Bank guarantee instruments. The goal is to attract private capital into critical infrastructure projects and reduce the burden on public finances.

The delegation included the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, and the Governor of the Central Bank of Nigeria, Olayemi Cardoso, who met with World Bank Group President Ajay Banga. While the government aims to use these guarantees to mitigate investment risks and stimulate economic growth, specific project details, timelines, and the total amount of financing sought have not been disclosed.