Nigeria’s economic reforms attract nearly $6bn in private capital — World Bank
The President of the World Bank Group, Ajay Banga, has commended Nigeria’s economic reform efforts, highlighting an increase in private capital inflows from about $300 million in 2023 to nearly $6 billion in 2026.
Banga gave the commendation during a meeting with the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, and the Governor of the Central Bank of Nigeria, Olayemi Cardoso, in Bangkok, Thailand, on the sidelines of the 2026 IMF and World Bank Group Annual Meetings.
During the meeting, Oyedele 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 attracting more private investment, financing critical infrastructure, strengthening the power sector and developing human capital.
The meeting also considered ways to ensure that public resources deliver tangible benefits to Nigerians amid the government’s ongoing economic reforms.
The Federal Government said its priority was to translate the gains from the reforms into job creation, stronger businesses and improved living standards for Nigerians.
