The African Development Bank Group (AfDB) has launched a new Country Strategy Paper (CSP) for Nigeria, aimed at transforming the economy through inclusive, climate-resilient infrastructure and SME empowerment.
Covering the period from 2025 to 2030, the strategy includes an annual financial commitment of $650 million, with $2.95 billion to be disbursed in the first four years. A further $3.21 billion is expected through co-financing with development partners.
At the heart of the strategy is the dual goal of closing Nigeria's $2.3 trillion infrastructure gap and empowering youth- and women-led businesses. The plan will invest in sustainable roads, energy, water systems, and agribusiness, particularly those that can generate employment and drive local industry.
SMEs are set to benefit from improved access to finance, supply chains, and market opportunities, especially under initiatives like AFAWA (Affirmative Finance Action for Women in Africa).
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The AfDB projects that these efforts will help create over 1.5 million jobs and support Nigeria's vision to grow its economy to $1 trillion. The strategy aligns with Nigeria's long-term plans, including Agenda 2050 and the Renewed Hope Agenda, and also aims to strengthen the country's participation in the African Continental Free Trade Area (AfCFTA).
By integrating green infrastructure and targeted SME support, the AfDB aims to build not just physical assets but inclusive prosperity, particularly for rural communities, small business owners, and future entrepreneurs.
