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Nigeria faces $31.5bn annual development finance gap – Report

Nigeria is facing an annual development finance gap of $31.5 billion, which threatens the country’s ability to meet its Sustainable Development Goals (SDGs) by 2030, according to the African Development Bank’s (AfDB) 2025 Country Focus Report (CFR).


The CFR report titled “Making Nigeria’s Capital Work Better for Its Development” emphasises the urgency of closing this shortfall, which is part of a broader $47.6 billion annual financing need required to drive critical investments in infrastructure, innovation, and social services.


The report attributes this gap to persistent structural weaknesses, low public revenue mobilisation, and overdependence on oil revenue. Despite recent bold fiscal reforms, including the removal of fuel subsidies, the adoption of a market-driven exchange rate, and inflation targeting, Nigeria’s domestic resource mobilisation remains underwhelming.

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