Nigeria and the World Bank have reached an agreement to speed up economic reforms, attract large-scale investment, and open up more job opportunities for the country’s fast-growing population.
The agreement followed high-level discussions 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, along with senior government and World Bank officials.
According to a statement issued by the Ministry of Finance on Thursday, the talks focused on moving Nigeria’s reform agenda beyond policy changes to visible outcomes that improve the daily lives of citizens.
“The discussions point to Nigeria’s shift from making reforms to delivering real results, with both sides committed to building a stronger economy that provides jobs, stability, and shared prosperity for Nigerians,” the ministry said.
The meeting also restated the federal government’s economic path under President Bola Ahmed Tinubu, with officials noting that confidence in Nigeria’s reform programme is gaining ground among global investors and development partners.
Mr. Edun told the World Bank delegation that recent policy steps taken by the administration are beginning to yield positive momentum across key sectors of the economy. He said the government is firmly focused on growth, investment, and employment creation as central pillars of its economic strategy.
“Our priority is to create an environment where investment can flow, businesses can grow, and Nigerians can find meaningful work,” the minister said. “The reforms underway are designed to unlock productivity and place the economy on a more sustainable path.”
Key areas discussed during the talks included improving access to a stable electricity supply, boosting agricultural productivity, speeding up the rollout of digital infrastructure, and making trade easier across borders. The government also stressed the importance of creating the right conditions for private sector investment, which it sees as critical to building a competitive and productive economy.
The ministry noted that progress in these areas would help reduce production costs, improve food security, and strengthen Nigeria’s position in regional and global markets.
Nigeria’s ongoing energy reforms also featured prominently in the discussions. The country expressed its ambition to deepen changes in the power and energy sectors while positioning itself as a major economic hub in West Africa.
Officials pointed to Abuja’s status as the host city of the Economic Community of West African States (ECOWAS) as part of Nigeria’s broader role in driving regional integration, trade and economic cooperation.
Ms. Bjerde, on her part, expressed satisfaction with the direction of Nigeria’s economic reforms and praised the government for its clear sense of purpose. She said international markets and development partners are paying closer attention to Nigeria, as confidence in the reform agenda continues to build.
“The clarity of direction we are seeing is encouraging, and it is contributing to growing interest from investors and partners,” she said.
The World Bank executive also assured Nigeria of the institution’s continued backing for an investment-driven growth strategy, with strong attention on infrastructure delivery and greater involvement of the private sector.
“Our support will remain focused on helping Nigeria turn its plans into tangible outcomes, especially in infrastructure and private sector-led growth,” Ms. Bjerde said.
The engagement comes at a time when the federal government is pushing to stabilise the economy, attract foreign and domestic investment and create jobs for millions of young Nigerians entering the labour market.
Both sides agreed that sustained cooperation between Nigeria and the World Bank would be crucial in ensuring that reforms translate into lasting economic gains and improved living standards for citizens.
