The African Development Bank Group has approved a new five-year strategy for Nigeria that aims to boost economic growth, close the country’s massive infrastructure gap, and create over 1.5 million jobs.

The Country Strategy Paper for 2025–2030 was approved by the Bank’s Board of Directors and will channel roughly $650 million annually into Nigeria’s economy, beginning with $2.95 billion over the first four years.

This will be supported by an estimated $3.21 billion in additional funding from development partners.

The strategy focuses on two key priorities: building sustainable, climate-smart infrastructure to drive industrial growth and competitiveness, and promoting gender- and youth-inclusive green growth through industrialization.

Nigeria’s infrastructure gap is estimated at $2.3 trillion between 2020 and 2043, and the Bank’s investments will target climate-friendly roads, power, and water systems, along with agribusiness projects designed to create jobs for women and young people.

“This strategy takes a transformative partnership between the Bank and Nigeria to a new level,” said Abdul Kamara, Director General of the African Development Bank’s Nigeria Office.

“By investing in sustainable infrastructure and inclusive agricultural growth, we are not only building roads, power systems, and transforming agriculture – we are building pathways to prosperity for millions of Nigerians.”

The plan is aligned with Nigeria’s long-term development goals, including the Agenda 2050, the National Development Plan 2021–2025, and the 2023 Renewed Hope Agenda.

It also supports the country’s effort to tap into the opportunities offered by the African Continental Free Trade Area by improving energy access, transport networks, and market reach for farmers, agro-entrepreneurs, and businesses.

Millions of Nigerians, including women, youth, small businesses, state governments, and rural communities, are expected to benefit from greater access to finance, stronger supply chains, skill-building programs, and broader business opportunities.

Women-led businesses will receive special attention through the Bank’s Affirmative Finance Action for Women in Africa (AFAWA), while young people will gain practical skills aimed at reducing unemployment.

In addition to economic growth, the Bank’s plan will help Nigeria build resilience against climate shocks like floods and droughts, reduce farmer-herder conflicts, and promote a more stable and united future through greener infrastructure and agricultural systems.