Nigeria and the World Bank have agreed to accelerate economic reforms, attract large-scale investment, and expand job opportunities to support the country’s rapidly growing population.
The agreement followed high-level talks held this week in Abuja between the Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, and the Managing Director of Operations at the World Bank Group, Ms Anna Bjerde, alongside senior government and World Bank officials.
In a statement issued on Thursday, the Ministry of Finance said discussions focused on moving Nigeria’s reform agenda beyond policy implementation to delivering tangible outcomes that positively impact citizens’ daily lives.
“The discussions signal Nigeria’s transition from reform design to reform delivery, with both parties committed to building a stronger economy that delivers jobs, stability and shared prosperity for Nigerians,” the ministry said.
The meeting reaffirmed the Federal Government’s economic direction under President Bola Ahmed Tinubu, with officials noting that confidence in Nigeria’s reform programme is steadily gaining traction among global investors and development partners.
Mr Edun told the World Bank delegation that recent policy measures introduced by the administration are beginning to generate positive momentum across key sectors of the economy.
“Our priority is to create an environment where investment can flow, businesses can expand, and Nigerians can find meaningful employment,” the minister said.
“The reforms underway are designed to unlock productivity and place the economy on a more sustainable growth path.”
Key areas discussed during the engagement included improving access to reliable electricity, boosting agricultural productivity, accelerating digital infrastructure deployment, and easing cross-border trade. The government also underscored the importance of strengthening conditions for private sector investment, which it described as critical to building a competitive and productive economy.
According to the ministry, progress in these areas would help lower production costs, enhance food security, and improve Nigeria’s competitiveness in regional and global markets.
Nigeria’s ongoing energy sector reforms also featured prominently in the talks, with the country restating its ambition to deepen power and energy reforms while positioning itself as a leading economic hub in West Africa.
Officials highlighted Abuja’s role as the headquarters of the Economic Community of West African States (ECOWAS) as part of Nigeria’s broader responsibility in advancing regional integration, trade, and economic cooperation.
Ms Bjerde expressed satisfaction with the direction of Nigeria’s economic reforms, commending the government for what she described as a clear and focused reform agenda.
“The clarity of direction we are seeing is encouraging and is helping to build confidence among investors and development partners,” she said.
She assured Nigeria of the World Bank’s continued support for an investment-led growth strategy, with a strong emphasis on infrastructure delivery and increased private sector participation.
“Our support will remain focused on helping Nigeria translate its plans into measurable outcomes, particularly in infrastructure development and private sector-driven growth,” Bjerde added.
The engagement comes as the Federal Government intensifies efforts to stabilise the economy, attract foreign and domestic investment, and create jobs for millions of young Nigerians entering the labour market.
Both Nigeria and the World Bank agreed that sustained collaboration would be critical to ensuring that ongoing reforms result in long-term economic growth and improved living standards for citizens.
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2026-02-05