The African Development Bank Group (AfDB) has approved a new five-year Country Strategy Paper for Nigeria. The new pledge will take the form of an annual commitment of $650 million from 2025 to 2030 to support the nation’s economic transformation, resilience-building, and inclusive prosperity.
The Bank disclosed this in a statement saying that $2.95 billion would be disbursed over the first four years, with an additional $3.21 billion expected from development partners through co-financing arrangements.
According to the AfDB, the new strategy centres on two major priorities: promoting sustainable, climate-smart infrastructure to boost Nigeria’s competitiveness and industrial development, and fostering inclusive green growth with a strong focus on gender and youth empowerment.
The Bank described the move as a bold step towards helping Africa’s largest economy navigate its current challenges while positioning it for long-term, inclusive growth.
