Nigeria’s reform drive has received a major boost, as the World Bank reaffirmed its commitment to supporting the country’s development agenda.
At the weekend, the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, hosted the World Bank’s Executive Director for Angola, Nigeria and South Africa (ANSA) Constituency, Mrs. Zainab Shamsuna Ahmed, in Abuja for a strategic briefing on Nigeria’s economic priorities.
Mrs. Ahmed praised Nigeria’s leadership role in continental forums, including the recent Africa Caucus, and assured that the Bank will continue to align its support with the country’s reform momentum.
Edun, speaking after the meeting, said Nigeria is determined to channel multilateral support into projects that directly impact citizens — from job creation and infrastructure expansion to unlocking private sector investment.
He noted that reforms such as fuel subsidy removal, improved tax collection, and digitisation are already yielding results, attracting fresh international capital. According to him, new investments in the manufacturing sector are clear signals of renewed investor confidence in the Nigerian economy.
“We are targeting GDP growth of up to 7% in the medium term — more than double the population growth rate — to significantly raise living standards,” Edun declared. “Our priority is structural reforms in agriculture, power, and digital infrastructure, all geared towards building a stronger and more competitive economy.”
The Minister stressed that with the World Bank’s continued partnership, Nigeria is on course to achieve sustainable, private sector–led growth capable of transforming livelihoods across the country.