World Bank President Commends Nigeria’s Economic Reforms, Notes Rise in Private Investment
Nigeria’s Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, and Central Bank of Nigeria (CBN) Governor Olayemi Cardoso have met with World Bank Group President Ajay Banga in Bangkok, Thailand, on the sidelines of the 2026 IMF and World Bank Group Annual Meetings.
During the meeting, Banga commended Nigeria’s reform progress, highlighting an increase in private capital inflows from approximately $300 million in 2023 to nearly $6 billion in 2026.
Oyedele also highlighted improvements in economic growth and government revenue mobilisation, noting that Nigeria’s tax-to-GDP ratio had risen from about seven per cent to 12.5 per cent.
The discussions focused on strategies to attract additional private investment, finance critical infrastructure, strengthen the power sector, develop human capital and ensure public resources deliver tangible benefits to Nigerians.
The meeting underscored the importance of sustained collaboration between Nigeria and the World Bank Group in supporting economic development and investment.
The Federal Government said its priority remains ensuring that the benefits of ongoing economic reforms translate into more jobs, stronger businesses and improved living standards for Nigerians.
World Bank President Commends Nigeria’s Economic Reforms, Notes Rise in Private Investment