Energy finance in Nigeria
Nigeria has 7 active World Bank energy projects, with $4.79 billion committed, the 3rd largest of 102 countries. 62.5% of its people had electricity in 2024.
- Committed
- $4.79bn
- Projects
- 7
- Per person
- $20
- Electricity access
- 62.5%
- Without electricity
- 89 million
Active projects
- Nigeria Distribution Sector Recovery Program$1.2 billion
The Program Development Objective is to improve financial and technical performance of the electricity distribution companies.
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The project development objective (PDO) is to increase private sector led access to reliable electricity services for households, public institutions, and commercial customers in Nigeria, and facilitate increased productive uses of clean electricity.
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The objectives of the Operation are to improve the reliability of electricity supply, achieve financial and fiscal sustainability, and enhance accountability.
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The objectives of the Operation are to improve the reliability of electricity supply, achieve financial and fiscal sustainability, and enhance accountability.
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To improve utilization and safety of existing storage and strengthen institutional arrangements for sustainable irrigation development and management, and hydropower planning in Nigeria
- NG-Electricity Transmission Project$486 million
The project development objective is to increase the transfer capacity of the transmission network in Nigeria.
- Nigeria Electrification Project$350 million
The development objective is to increase access to electricity services for households, public institutions, and underserved micro,small and medium enterprises.
Source: World Bank Group, updated 22 Oct 2026.
Who else finances energy in Africa
- World Bank (IBRD and IDA)Loans, credits and grants to governments for generation, transmission, distribution and access. Co-leads Mission 300 with the African Development Bank, which aims to connect 300 million Africans to electricity by 2030.
- IFCEquity and loans for private power producers, utilities and off-grid companies; the World Bank Group’s private-sector arm.
- MIGAPolitical-risk insurance and credit enhancement that make cross-border energy investments bankable.
- AfDBSovereign and private loans across Africa’s power sector, including Desert to Power; co-leads Mission 300.
- SEFAGrants and concessional finance for project preparation, mini-grids, clean cooking and green baseload, managed by the African Development Bank.
- OPEC FundPublic- and private-sector loans and grants in developing countries, with energy among its core sectors.
- IsDBSharia-compliant finance for power, renewables and energy access in its member countries.
- AfreximbankTrade and project finance across Africa, including oil, gas and power infrastructure.
- AFCEquity, debt and project development for African infrastructure, with power one of its largest sectors.
- Africa50An infrastructure investment platform owned by African governments and the AfDB that develops and invests in power and transport projects.
- GCFGrants, concessional loans, equity and guarantees for low-emission and climate-resilient projects, through accredited entities.
- CIFConcessional finance, delivered through the multilateral banks, for clean technology, renewables in low-income countries and coal transition.
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