The Federal Ministry of Budget and Economic Planning has entered into a cooperation agreement with the IFC – International Finance Corporation, part of The World Bank Group, to strengthen project preparation, attract private capital, and accelerate the delivery of bankable infrastructure projects. The agreement, signed in Abuja, supports President Bola Tinubu’s Renewed Hope Agenda and targets priority sectors including transport, energy, digital infrastructure, water, and small and medium-sized enterprises.
The framework is designed to improve the identification, structuring, and execution of high impact projects through coordinated collaboration between government agencies and IFC. It also leverages World Bank Group financing tools and guarantee instruments to enhance investor confidence and reduce project risks.
Officials described the partnership as a step toward converting development ambitions into implementable investments. IFC leadership noted its long-standing presence in Nigeria and disclosed that it has mobilised roughly $20 billion in investments in the country over the past five years, reinforcing its role as a key development finance partner.
