In a major announcement on January 27, 2026, the World Bank unveiled a massive $250 billion global procurement window, specifically urging Nigerian businesses to compete for a share of over 40,000 annual contract opportunities. Speaking at a high-level procurement seminar in Lagos, Ms. Gallina Vincelette, World Bank Vice President for Operations Policy and Country Services, emphasized that these opportunities are not limited to projects within Nigeria but span the entire globe.
This invitation marks a significant shift, positioning Nigerian firms not just as local contractors, but as competitive international players in infrastructure, health, education, and technology.
1. Nigerian Firms: Already Top Global Performers
The World Bank revealed that Nigerian companies are no longer “emerging” players—they are already dominant.
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Global Ranking: Nigeria currently ranks 5th worldwide in the total number of World Bank-financed contracts awarded to local suppliers.
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Track Record: Over the past five years, Nigerian firms have secured 6,800 contracts valued at approximately $2.5 billion.
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Sector Dominance: Over 60% of these awards were for civil works, including the construction of hospitals, schools, bridges, and roads, proving the technical maturity of the Nigerian construction sector.
2. Regional and Global Expansion
The seminar’s central message was “Think Regional.” Beyond the $2.5 billion domestic portfolio, the broader African market represents a much larger prize:
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The Africa Opportunity: In the same five-year period, the Bank awarded 9,000 contracts worth $45 billion across Africa.
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Cross-Border Eligibility: Nigerian firms are eligible to bid for any World Bank-supported project globally, provided they meet the technical and financial standards.
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Support for SMEs: The Bank announced new reforms that shift the focus from “lowest cost” to “quality and sustainability,” rewarding firms with better safety plans and environmental standards.
3. IFC and Private Sector Mobilization
The International Finance Corporation (IFC), the private sector arm of the World Bank Group, reaffirmed its aggressive 2026 strategy for Nigeria:
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Direct Exposure: The IFC’s own balance sheet investment in Nigeria stands at $1.3 billion.
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The Multiplier Effect: Through mobilization efforts, the IFC successfully “crowded in” $5 billion in private capital to Nigeria over the past year.
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Job Creation Focus: The IFC identified clean energy, manufacturing, and tourism as the top investment priorities for 2026, with manufacturing alone projected to create 30,000 direct and indirect jobs.
How to Access the $250bn Pipeline
| Step | Action Item |
| Registration | Register on the WBGeProcure Portal to get a Vendor Identification Number (VIN). |
| Tracking | Use the Systematic Tracking of Exchanges in Procurement (STEP) platform to find active tenders. |
| Strategy | Move beyond “lowest price” bidding. Focus on the Weighted Criteria (Quality, Safety, Sustainability). |
| Regionalism | Partner with local firms in other African countries to satisfy “local content” requirements for regional bids. |
“Our President believes in our capacity… Nigerian firms are ready to seize this opportunity as an entry point into procurement worldwide.” — Abubakar Atiku Bagudu, Minister of Budget and Economic Planning.
