In a bold step toward reshaping Nigeria’s economic landscape, the African Development Bank (AfDB) has rolled out a new five-year roadmap that will inject an average of $650 million annually into the country from 2025 to 2030. The initiative is designed to fast-track infrastructure development, empower young people and women, and support Nigeria’s push toward a more resilient, inclusive economy.
Under this Country Strategy Paper (CSP), AfDB will commit $2.95 billion within the first four years, while rallying another $3.21 billion in partnerships and co-financing from other global development players. The plan zeros in on two urgent areas: closing Nigeria’s vast infrastructure gap and supporting industrial growth that includes everyone, especially women and youth.
“We’re not just investing in infrastructure; we’re investing in opportunity, innovation, and a more inclusive future,” said Abdul Kamara, AfDB’s Director General in Nigeria. “This new partnership marks a deeper commitment to unlocking Nigeria’s full potential.”
With an eye on climate resilience and sustainable development, the strategy prioritizes clean energy, efficient transportation systems, reliable water supply, and agro-industrial expansion. The goal? To support Nigeria’s ambition of doubling its economy to $1 trillion and generating over 1.5 million jobs by the end of the decade.
The strategy also aligns with Nigeria’s existing national frameworks, including Agenda 2050, the National Development Plan, and the Renewed Hope Agenda. It aims to boost Nigeria’s participation in the African Continental Free Trade Area by improving trade infrastructure and creating better access to markets for smallholder farmers and entrepreneurs.
Significantly, the plan emphasizes inclusion: women-led businesses will gain financial support through initiatives like the Affirmative Finance Action for Women in Africa, while Nigerian youth will benefit from skills development programmes that prepare them for the modern workforce.
This multi-billion-dollar plan could serve as a turning point, not just in numbers, but in real impact for communities, small businesses, and the future of Nigeria’s economy.