The African Development Bank (AfDB) has launched a five-year Country Strategy Paper (CSP) for Nigeria (2025–2030), committing $650 million annually to drive sustainable economic growth, improve infrastructure, and foster inclusive development. With $2.95 billion in direct financing over the first four years, supplemented by $3.21 billion in co-financing, the strategy aligns with Nigeria’s Agenda 2050, National Development Plan 2021–2025, and President Tinubu’s Renewed Hope Agenda.
The CSP prioritizes climate-resilient infrastructure and inclusive green growth for women and youth. To tackle Nigeria’s $2.3 trillion infrastructure gap (2020–2043), the AfDB will invest in roads, energy, water, and agribusinesses, aiming to create 1.56 million jobs and support Nigeria’s $1 trillion economy goal. These efforts will boost competitiveness, industrial growth, and market connectivity, capitalizing on African Continental Free Trade Area (AfCFTA) opportunities.
The strategy empowers women and youth through initiatives like the Affirmative Finance Action for Women in Africa (AFAWA), providing financial and technical support to women-led businesses and targeted training for youth to reduce unemployment. By promoting sustainable agriculture and greener infrastructure, the AfDB seeks to enhance Nigeria’s resilience against climate challenges like flooding and drought, fostering a secure and unified future.
Abdul Kamara, Director General of the AfDB’s Nigeria Office, called the CSP a “transformative partnership” that paves pathways to prosperity. The strategy supports Nigeria’s green economy transition, benefiting micro, small, and medium-sized enterprises (MSMEs), state governments, and rural communities while delivering widespread economic and environmental gains.
