Korede Abdullah in Lagos
The African Development Bank Group has approved a bold new five-year Country Strategy Paper for Nigeria, committing approximately $650 million annually from 2025 to 2030 to drive economic transformation, strengthen resilience, and promote inclusive prosperity.
According to the Bank’s statement released on Thursday, the strategy will provide $2.95 billion over the first four years and leverage an additional $3.21 billion in co-financing from development partners.
“The Board of Directors of the African Development Bank Group has a new five-year Country Strategy Paper (2025–2030) for Nigeria,” the statement read, reaffirming its dedication to national progress.
The strategy is anchored on two key priorities: developing sustainable, climate-smart infrastructure to boost industrial competitiveness and promoting green growth through gender- and youth-inclusive industrialization.
It aims to narrow Nigeria’s vast $2.3 trillion infrastructure gap by investing in climate-friendly road construction, power expansion, clean water systems, and support for agribusinesses that generate employment.
“By investing in sustainable infrastructure and inclusive agricultural growth,” said Abdul Kamara, Director General of the Bank’s Nigeria Office, “we are not only building roads, power systems, and transforming agriculture – we are building pathways to prosperity for millions of Nigerians.”
Designed in alignment with Nigeria’s broader development goals — including Agenda 2050, the National Development Plan (2021–2025), and the 2023 Renewed Hope Agenda — the strategy also supports Nigeria’s engagement in the African Continental Free Trade Area.
It seeks to enhance energy access, improve transportation networks, and expand markets for farmers, agro-entrepreneurs, and businesses. The Bank anticipates the investments will contribute to Nigeria’s goal of doubling its economy to $1 trillion while creating approximately 1.56 million jobs across multiple sectors.
Millions of Nigerians are expected to benefit directly, particularly women, youth, small and medium-sized enterprises, state governments, and rural communities.
The plan includes targeted initiatives like the Affirmative Finance Action for Women in Africa, offering women entrepreneurs increased financial access, while youths will gain vital skills to combat unemployment.
By fostering greener infrastructure and sustainable agricultural systems, the strategy also aims to bolster climate resilience, reduce the impact of natural disasters, ease communal tensions, and build a more united, prosperous nation.
