President Bola Tinubu has signed into law a sweeping infrastructure development bill allocating $48 billion toward roads, bridges, rail networks and broadband expansion across Nigeria’s 36 states.
The legislation, described by the presidency as the largest public investment package in the country’s history, is expected to create at least 500,000 direct and indirect jobs over a five-year implementation period.
Key projects include the completion of the Lagos-Ibadan expressway, a new rail corridor connecting the north and south, and a national broadband rollout targeting 95 percent coverage by 2028.
The World Bank and African Development Bank have both signalled readiness to co-finance portions of the package, subject to governance safeguards being met. Independent economists cautiously welcomed the announcement while calling for robust implementation monitoring.
