FG Partners World Bank Group to Fix Nigeria’s Roads, Power, and Rail
By Patience Ikpeme
The Federal Government has taken a major step to fix Nigeria’s broken infrastructure by signing a new deal with the International Finance Corporation (IFC), which is part of the World Bank Group.
This partnership aims to find private investors who will bring in the big money needed to build better roads, power plants, and water systems across the country.
During the signing ceremony in Abuja on Tuesday, the Minister of Budget and Economic Planning, Senator Abubakar Bagudu, explained that the government alone does not have enough money in its yearly budget to fix all the country’s problems. He said this agreement is a smart way to make sure that Nigeria’s big projects are well-planned and ready for private companies to put their money into.
Senator Bagudu used the history of mobile phones in Nigeria to show how much the country can grow. He noted that when mobile phones first came to Nigeria, early investors were afraid there wouldn’t even be 500,000 users, but today, over 100 million Nigerians are connected.
“Nigeria is a country brimming with opportunities. With a population of over 230 million, our needs in rail, energy, water security, healthcare, and digital infrastructure are extensive. This agreement aims to ensure that we prepare projects adequately so investors can have confidence and clarity on where to allocate capital,” the Minister said.
He also mentioned that this plan follows President Bola Ahmed Tinubu’s goal of making the economy stable and attractive to business owners. He said Nigeria’s long-term plan, called Agenda 2050, sees the private sector as the real engine that will drive growth and create jobs for the people.
Speaking for the IFC, the Vice President for Africa, Mr. Ethiopis Tafara, said the deal was the result of a whole year of hard work and talks. He said the focus is on projects that will actually change lives and create work for the youth.
“This is not just about signing a document. It is about establishing the groundwork for transformative projects aligned with President Tinubu’s Renewed Hope Agenda—initiatives that generate employment, attract investment, and enhance lives,” Tafara said.
He noted that the IFC will help the government identify and structure these big projects so they don’t fail. He also made it clear that the government cannot do it alone, saying, “Public-private partnerships are not optional; they are vital. IFC is ready to assist the government in developing a credible pipeline of projects across transport, energy, digital infrastructure, water, and other priority sectors.”
The IFC Regional Director, Dahlia Khalifa, also spoke at the event, saying that Nigeria’s large population of young people is a great strength. She said the IFC has been working in Nigeria for over 60 years and has helped bring in about $20 billion in the last five years alone to help sectors like farming, manufacturing, and data.
“That is what tonight is about—creating the framework for partnerships to thrive and deliver shared prosperity for all Nigerians,” Khalifa said.
She promised that the IFC would keep supporting Nigeria and mentioned that they have even quadrupled their staff in the country recently to show they mean business. She believes this partnership will turn big dreams into real achievements.
“This is the kind of collaboration that turns ambition into achievement. Together, we will build something meaningful for Nigeria—projects that connect markets, power industries, and unlock the full potential of the Nigerian people,” she said.
By signing this agreement, the Federal Government is showing that it is ready to work with international partners to bring in the private cash needed to build a better Nigeria for everyone.
