The African Development Bank Group has approved a new five-year Country Strategy Paper for Nigeria, pledging approximately $650 million annually from 2025 to 2030 to support economic transformation, strengthen resilience, and promote inclusive growth.
The Bank said it would disburse $2.95 billion over the first four years of the strategy, alongside an anticipated $3.21 billion in co-financing from development partners.
“The Board of Directors of the African Development Bank Group has approved a new five-year Country Strategy Paper (2025–2030) for Nigeria, committing about $650 million annually to drive economic transformation, build resilience, and foster broad-based prosperity,” the Bank said.
It added that the strategy would focus on two core priorities: developing sustainable, climate-smart infrastructure to boost competitiveness and industrial development, and promoting gender- and youth-inclusive green growth through industrialisation.
Abdul Kamara, Director General of the AfDB’s Nigeria Country Office, said the strategy would deepen the partnership between the Bank and Nigeria.
“This strategy takes a transformative partnership between the Bank and Nigeria to a new level. By investing in sustainable infrastructure and inclusive agricultural growth, we are not only building roads, power systems, and transforming agriculture – we are building pathways to prosperity for millions of Nigerians,” he said.
The Country Strategy Paper aligns with Nigeria’s Agenda 2050, the National Development Plan (2021–2025), and the Renewed Hope Agenda. It also supports Nigeria’s participation in the African Continental Free Trade Area by enhancing market access and transportation networks.
According to the Bank, millions of Nigerians — including women, youth, small businesses, state governments, and rural communities — will benefit from increased access to finance, vocational training, strengthened supply chains, and new business opportunities.
The Bank noted that women entrepreneurs would receive tailored support through initiatives such as the Affirmative Finance Action for Women in Africa (AFAWA), while young Nigerians would be equipped with critical skills to address unemployment.
It further stated that the emphasis on greener, climate-resilient infrastructure would help the country better cope with natural disasters like floods and droughts, mitigate farmer-herder conflicts, and support long-term national stability and development.
Nigeria’s infrastructure deficit, estimated at $2.3 trillion between 2020 and 2043, will be tackled through investments in climate-smart roads, power systems, clean water projects, and agribusiness support. These efforts form part of a broader goal to double the size of Nigeria’s economy to $1 trillion and create over 1.5 million jobs.
