The African Development Bank (AfDB) has adopted a new five-year country strategy document (2025-2030) for Nigeria.
The AfDB’s new country strategy outlines an annual investment of approximately $650 million to stimulate economic transformation, strengthen resilience, and foster widespread prosperity in the country.
The strategy focuses on two key priority areas: promoting sustainable and climate-smart infrastructure to enhance competitiveness and industrial development, and fostering inclusive green growth for youth and women through industrialization.
It aims to address Nigeria's critical infrastructure gap—estimated at $2.3 trillion between 2020 and 2043—by investing in climate-resilient road networks, electricity grids, and water systems, as well as supporting job-creating agro-processing businesses, particularly for women and youth.
The Bank's investments are expected to support Nigeria's ambition to double the size of its economy to $1 trillion and create 1.561 million jobs.
The new strategy builds on Nigeria's long-term development plans, including Agenda 2050, the National Development Plan 2021-2025, and the "Renewed Hope" Programme 2023.
It also supports Nigeria’s efforts to capitalize on the opportunities offered by the African Continental Free Trade Area (AfCFTA) by improving access to energy, transport networks, and markets for farmers, agro-entrepreneurs, and businesses.
"This strategy takes the transformative partnership between the Bank and Nigeria to the next level," said Abdul Kamara, Director General of the AfDB office in Nigeria, adding, "By investing in sustainable infrastructure and inclusive agricultural growth, we are not just building roads, electricity grids, and transforming agriculture; we are paving the way for prosperity for millions of Nigerians."
