The African Development Bank (AfDB) has approved a new six-year strategy for Nigeria that will commit approximately $650 million annually to drive economic transformation, strengthen infrastructure, and support inclusive growth.
Under the 2025–2030 Country Strategy Paper (CSP), the AfDB will disburse $2.95 billion over the first four years, with an additional $3.21 billion expected from development partners through co-financing. The strategy is designed to accelerate Nigeria's push toward a $1 trillion economy while creating over 1.5 million jobs.
The Bank will focus on two priority areas: building climate-resilient infrastructure to boost industrial competitiveness, and fostering inclusive green growth through gender and youth-driven industrialisation.
Key interventions will include investments in climate-smart roads, power and water systems, and support for agribusinesses that create employment opportunities for women and young people. Small businesses are also expected to benefit through improved access to finance, training, supply chain development, and enhanced market access.
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"This strategy takes a transformative partnership between the Bank and Nigeria to a new level," said Abdul Kamara, AfDB's Director General for Nigeria. "We are building pathways to prosperity for millions of Nigerians."
The strategy aligns with Nigeria's Agenda 2050 and the Renewed Hope Agenda, and will also support efforts to tap into the African Continental Free Trade Area by improving transport and energy networks.
Specific initiatives like the Affirmative Finance Action for Women in Africa (AFAWA) will provide targeted funding and support to female entrepreneurs, while youth will gain access to skills development and job creation programs—strengthening resilience and easing tensions in affected communities.
