Nigeria’s ambitious economic reform agenda received a major endorsement on Thursday as the World Bank pledged increased support to unlock private sector growth, describing the country as central to its Africa strategy.
At a high-level meeting in Abuja, the Honourable Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, hosted the Managing Director and Chief Financial Officer of the World Bank, Ms. Anshula Kant, who led a senior delegation to engage on deepening economic reforms and scaling development finance.
Ms. Kant commended the Nigerian government’s decisive steps—particularly the liberalisation of the foreign exchange market and the removal of fuel subsidies—saying they have restored investor confidence and laid a strong foundation for inclusive, sustainable growth.
“Nigeria’s reform momentum is bold and necessary. The World Bank stands ready to accelerate support in priority areas like energy, digital infrastructure, and youth employment,” Ms. Kant affirmed.
Minister Edun underscored the country’s shift toward a private investment–led model, noting growing interest in infrastructure, agriculture, and technology as critical engines of growth. He pointed to improved reserves and over $7 billion in fresh oil and gas investment commitments as early proof of progress.
“Our focus is clear—unlocking private capital to scale growth and prosperity. The World Bank remains a strategic partner on this journey,” Edun said.
The discussions also explored new financial instruments to reduce borrowing costs and increase access to capital for small and medium-sized enterprises (SMEs), including blended finance solutions and expanded guarantees from the Multilateral Investment Guarantee Agency (MIGA).
The session concluded with a renewed commitment to transforming Nigeria’s economic reforms into tangible outcomes—jobs, capital inflows, and a resilient economy that works for all citizens.
Nigeria’s Reform Drive Gets Global Boost as World Bank Commits to Private Sector–Led Growth
