World Bank opens global procurement window to Nigerian businesses

The World Bank has announced a $250 billion (€230 billion) procurement window, inviting Nigerian firms to participate in thousands of projects worldwide. The initiative aims to enhance private sector engagement, drive economic growth, and provide access to international procurement opportunities.

Speaking at a Lagos seminar, Ms Gallina Andronova Vincelette, vice president of operations policy and country services (OPCS), highlighted the scale of the opportunity, saying: “To understand the scope of procurement, I will focus on the public sector. We currently see $250 billion available and 40,000 procurement opportunities for companies to deliver on projects approved by our Board.”

Over the past five years, Nigeria-based suppliers have secured more than 6,800 World Bank–financed contracts, totalling $2.5 billion (€2.3 billion).

“More than 60 per cent of these awards have gone to the delivery of civil works, including roads, bridges, hospitals and school construction,” Vincelette added.

IFC Director for Central Africa and Nigeria Ms Dahlia Khalifa said: “IFC is very committed to Nigeria. Last year alone, we brought about $5 billion (€4.6 billion) to Nigeria, and that is the case we have been seeing for the past three or four years. But that’s not enough. Our ambition is much higher.”

Minister of Budget and Economic Planning Abubakar Atiku Bagudu welcomed the initiative, stating: “This is to encourage Nigerian companies, Nigerian entrepreneurs and Nigerian service providers to look at World Bank proposals across the world as an entry point into procurement worldwide. We believe our construction companies, our artisans and our service providers have the ability to compete globally.”

The World Bank’s global procurement programme offers Nigerian businesses a platform to access international projects, enhance competitiveness, and drive growth across the continent.

Read more on how Nigerian companies can leverage the World Bank procurement window to expand operations.