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.
