As a developing country, Nigeria heavily depends on development agencies Finance for lots of assistance and partnership for projects in diver’s sectors of the economy-from health, infrastructure, education, agriculture etc.
The volume of world bank transactions in the form of contract awarded to indigenous companies should attract /interest not only financial intermediaries like banks, Fintech and insurance service providers, but also manufacturers, importers and other sub-contractors. They need monitor which products or services are supply contracts awarded to and what is their contact addresses and names of decision makers. This help them reach out directly to awardees, when product/service awarded is related to what they produce or can help the awardee succeed.
Nigerian contractors secured about 6,800 World Bank-financed contracts valued at an estimated $2.5 billion over the past five years. That is N3.7 Trillion Naira. Making it N750 Billion Naira every year as average for the 5 years’ period. Details of this were disclosed to the press by Vice President, Operations Policy and Country Services of the World Bank, Ms Gallina Vincelette, at the World Bank Group Business Opportunities Seminar held in Lagos in January 2026(see reported excerpt from one of the dailies)
Nigeria ranks 5th in the world in volume of expenditures contracts awarded locally. In 2025 she spent on Nigeria $680,981,064.04 in 1011 projects. Translating to N1,021,471,596,000 (using an exchange rate of $1/N1500). That is over one trillion Naira in 2025 alone.
