Nigeria

One in five Africans is Nigerian and although it has the largest economy in Africa, around 100 million Nigerians continue to live in poverty. Reducing poverty is a government priority.

The Nigeria economy has been growing at about 6-7% over the last few years, and most of this growth has come from the Micro, Small and Medium Enterprises (MSMEs) which contribute over 45% of the GDP, and employ about seven in ten working people. However, these businesses need loans to grow and only 3% of the funding needs of these MSMEs are met by the formal financial sector in the country.

That’s why AGI supported the establishment of the Development Bank of Nigeria, and was responsible for coordinating all the activities required for the successful launch of the bank earlier this year.  This builds on previous AGI support to bolster the efficiency of the EMIT secretariat, introducing the previous government’s Transformation Agenda’s reforms.

Small and medium size businesses drive the economy in Nigeria - providing funding to them will help the economy and create jobs
Tunde Ladipo, Former AGI Nigeria Country Head

Highlights

There are millions of small business owners in Nigeria, who struggle to get loans to expand their businesses. But that might be about to change.
The Nigerian government has launched a National Development Bank, set to fund 200,000 small businesses in its first year.

20,000

Twenty thousand small businesses to benefit from Development Bank of Nigeria's loans in first year.

994km

The railway from Kano to Lagos, an important commercial corridor, has been repaired.

AGI In Action

Nov 2014

Twitter

Here's a snapshot of what AGI and our partner governments have done since AGI was set up in 2008 #globaldev t.co/lpKTiDwJhW

19th November 2014
Twitter

In Nigeria AGI has supported the government's economic plan - the plan has helped connect cities and speed up trade. t.co/4jcHKXtPIJ

11th November 2014

Oct 2014

Sep 2014

Video

Why we support AGI - SPF

Niclas Kjellström-Matseke, CEO of the Swedish Postcode Lottery, explains why the foundation has supported AGI since 2010.
30th September 2014

Jul 2014

Apr 2014

Jun 2013

Quote
[AGI] has made a considerable difference in the effectiveness of the EMIT.
Ngozi Okonjo-Iweala
Former Nigerian Finance Minister
5th June 2013

Jun 2012

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