World Bank Opens $250 Billion Global Procurement, Invites Nigerian Firms to Apply
- The World Bank has launched $250 billion procurement window for Nigerian firms to access global contract opportunities
- In the past, Nigerian companies have secured over 6,800 World Bank contracts worth $2.5 billion in five years
- World Bank officials encourage local businesses to leverage the bank's projects for regional and international expansion
The World Bank has opened a massive $250 billion global procurement window to Nigerian firms, urging local businesses to position themselves for thousands of contract opportunities linked to development projects across multiple regions of the world.
The opportunity was unveiled at a World Bank procurement seminar held in Lagos, where officials revealed that the scale of available contracts continues to expand as new World Bank–financed projects are approved worldwide.
Source: Getty Images
According to the Bank, more than $250 billion has already been committed to active projects, creating over 40,000 procurement opportunities for private companies to supply goods, execute works, and deliver services.
Thousands of contracts across key sectors
World Bank procurement opportunities span a wide range of sectors, including infrastructure, health, education, energy, water, transportation, and public services.
Contracts cover civil works, consultancy services, equipment supply, technology solutions, and project implementation support.
Officials emphasised that these contracts are not limited to World Bank projects within Nigeria alone.
Nigerian companies are eligible to bid for projects across Africa and other regions where World Bank–supported programmes are ongoing, provided they meet the required technical and financial standards.
Strong track record by Nigerian firms
In the Nigerian context, the World Bank disclosed that local companies have already demonstrated strong participation within its procurement ecosystem.
Over the past five years, Nigeria-based suppliers have secured more than 6,800 World Bank–financed contracts valued at approximately $2.5 billion.
More than 60 per cent of these contracts were tied to civil works such as the construction of roads, bridges, hospitals, schools, and other public infrastructure.
This performance, according to the Bank, highlights the capacity of Nigerian firms to compete effectively within internationally funded projects.
Regional opportunities across Africa
Beyond Nigeria, the scale of opportunity across the continent remains substantial. Across Africa, over 9,000 World Bank–financed contracts worth nearly $45 billion were awarded within the same five-year period.
The Bank said this underscores the scale of regional demand for competitive contractors and service providers capable of delivering complex projects.
World Bank officials encouraged Nigerian firms to think regionally, stressing that firms with proven expertise can leverage World Bank procurement as a gateway to international expansion.
IFC reaffirms commitment to Nigeria
The International Finance Corporation (IFC), the private-sector arm of the World Bank Group, also reaffirmed its long-term commitment to Nigeria.
It described job creation and private-sector growth as central to its engagement strategy in the country.
According to the IFC, its direct investment exposure in Nigeria currently stands at $1.3 billion.
In addition, its mobilisation efforts attracted about $5 billion in private capital into Nigeria over the past year alone, with plans to scale this further through new transactions.
Government sees global pathway for local businesses
Nigerian government officials said the country is positioning itself to deepen participation in the World Bank’s procurement framework as a pathway for local businesses to access global markets.
With the World Bank’s active portfolio in Nigeria exceeding $17 billion, authorities described procurement participation as a strategic entry point for construction firms, service providers, artisans, and MSMEs.
Officials expressed confidence in the capacity of Nigerian companies to meet global standards, noting that increased engagement could help scale businesses, strengthen technical expertise, and drive sustainable job creation.
Source: UGC
As World Bank procurement opportunities continue to grow globally, stakeholders said stronger awareness and proactive engagement could enable Nigerian MSMEs to convert global development financing into long-term business growth and international market access.
DBN opens applications for 2026 MSME funding
Legit.ng earlier reported that micro, small and medium enterprise owners in Anambra state now have a fresh opportunity to access funding, skills and mentorship as the Development Bank of Nigeria has opened applications for its 2026 DBN Entrepreneurship Training Programme.
The federal government-owned bank announced that eligible entrepreneurs can benefit from free business training and grant funding totalling ₦8.5 million under the new intake.
The programme is being implemented in partnership with the Anambra State Small Business Agency, which serves as DBN’s official state partner for the 2026 rollout.
Proofreading by Kola Muhammed, copy editor at Legit.ng.
Source: Legit.ng
