The Board of Directors of the African Development Bank Group (AfDB) has approved a new Country Strategy Paper (CSP) for Nigeria covering the period 2025–2030.
The CSP includes an annual commitment of approximately $650m to accelerate economic transformation, resilience, and inclusive prosperity.
Over the initial four years, the AfDB will disburse $2.95bn, with an additional $3.21bn expected from development partners through co-financing arrangements.
The new CSP prioritises two key areas: fostering sustainable, climate-resilient infrastructure to boost industrial competitiveness, and promoting inclusive green growth anchored on gender and youth empowerment through industrialisation.
The strategy aims to close Nigeria’s critical infrastructure gap – estimated at $2.3trn between 2020 and 2043 – by investing in climate-friendly roads, power, and water systems, and supporting agribusinesses that create jobs, especially for women and youth. The Bank’s investments are projected to support Nigeria’s ambition to double the size of its economy to $1 trillion and to create 1,561,000 jobs.
The new strategy aligns with Nigeria’s long-term development plans, including the Agenda 2050, the National Development Plan 2021-2025, and the 2023 Renewed Hope Agenda. It also supports Nigeria’s efforts to capitalise on opportunities offered by the African Continental Free Trade Area by boosting energy access, improving transportation networks, and enhancing market access for farmers, agro-entrepreneurs, and businesses.
“This strategy takes a transformative partnership between the Bank and Nigeria to a new level,” said Abdul Kamara, Director General of the African Development Bank’s Nigeria Office “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.”
Millions of Nigerians, including women, youth, micro-, small- and medium-sized enterprises, State governments, and rural communities, are expected to benefit from improved access to finance, enhanced supply chains, training, and business opportunities. Women entrepreneurs will receive targeted support under programs like the Bank’s Affirmative Finance Action for Women in Africa (AFAWA) initiative, while youth will gain critical skills to tackle unemployment.
By supporting greener, more resilient infrastructure and agricultural systems, the strategy also strengthens Nigeria’s adaptation efforts, mitigating the effects of floods and droughts, easing farmer-herder conflicts, and contributing to a stronger and united future.