FG and IFC Partner to Attract Private Investment for Nigeria’s Infrastructure Growth
The Federal Government of Nigeria has taken a major step to accelerate infrastructure development by signing a landmark cooperation agreement with the International Finance Corporation (IFC), part of the World Bank Group. The partnership aims to boost project preparation, mobilize private capital, and fast-track the delivery of investment-ready infrastructure projects essential for Nigeria’s economic transformation.
The signing ceremony, held in Abuja on February 4, 2026, brought together top government officials and senior IFC executives. Key attendees included Senator Abubakar Bagudu, Minister of Budget and Economic Planning; Mr. Wale Edun, Minister of Finance; and Dr. Ali Pate, Minister of Health. The event marked a significant milestone in efforts to strengthen public-private collaboration for high-impact projects across sectors such as transport, energy, water, healthcare, and digital infrastructure.
Speaking at the ceremony, Minister Bagudu emphasized the agreement’s strategic importance in addressing Nigeria’s extensive infrastructure needs. He highlighted that properly prepared, bankable projects can attract private investors, drawing parallels with the country’s mobile telephony revolution, which grew from an initial 500,000 subscribers to a digital economy of over 100 million users. “This demonstrates Nigeria’s vast absorptive capacity,” he said.
IFC Vice President for Africa, Ethiopis Tafara, described the agreement as the culmination of a year of close collaboration with the Nigerian government. He noted that public budgets alone cannot close the country’s infrastructure gap and stressed the importance of public-private partnerships. The IFC will support the federal and state governments in structuring and delivering transformative, investment-ready projects across transport, energy, digital infrastructure, and water.
IFC Regional Director Dahlia Khalifa called the agreement a milestone in Nigeria’s development journey, highlighting the country’s youthful population, bold reforms, and economic potential. She stressed that the partnership will facilitate projects that connect markets, power industries, and generate jobs, creating shared prosperity for Nigerians. The agreement underscores Nigeria’s commitment to deepening collaboration with development finance institutions and mobilizing private capital to drive sustainable economic growth.
source: The Sun