The International Finance Corporation (IFC) is developing new financing platforms and risk-mitigation mechanisms aimed at unlocking more private capital for key sectors of Nigeria’s economy, including agriculture, infrastructure and small businesses.
Olivier Buyoya, IFC’s Division Director for Nigeria and Central Africa, said the initiative is focused on capital already available within the financial system but not reaching sectors considered too risky by lenders and investors.
Agriculture is a major focus. Nigerian commercial banks currently allocate less than 5% of their lending to the sector, despite its importance to food security, employment and domestic production. The IFC and World Bank Group are looking at structures that can provide greater risk protection to financial institutions and investors, making longer-term financing more accessible.
$50 million unsecured 10-year debt financing
The IFC is also expanding its use of local-currency financing, as exchange-rate volatility makes dollar-denominated borrowing more challenging for African businesses. Its local-currency financing framework with Access Bank is designed to support longer-term funding for small and medium-sized businesses across several African markets.
In Nigeria, the IFC has also provided $50 million in subordinated, unsecured 10-year debt financing to InfraCredit, a specialised infrastructure credit guarantee institution.
The facility is expected to strengthen InfraCredit’s capital base and help mobilise long-term local-currency financing for projects spanning renewable energy, climate-smart agriculture, digital infrastructure, telecommunications, healthcare and transport.
The financing push comes ahead of the Africa Financial Summit (AFIS) 2026, scheduled for November 3–4 in Luanda, Angola, where financial institutions, investors, regulators and policymakers will discuss ways to channel more African capital into productive sectors.