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Nigeria needs five times growth rate to hit $1tr by 2030 – World Bank

Nigeria’s economy needs to grow at a rate five times faster than its current pace to achieve the $1 trillion target by 2030, as well as address the country’s rising poverty levels, according to the World Bank.

This was stated during the unveiling of the Nigeria Development Update (NDU) report on Monday, which assesses the nation’s economic development.

The report, titled “Building Momentum for Inclusive Growth,” was presented by Alex Sienaert, the World Bank’s Lead Economist for Nigeria. In his remarks, Sienaert commended the Nigerian government for implementing macroeconomic reforms that have stabilized the economy.

However, he pointed out that more efforts are needed to ensure that this growth is inclusive, particularly through expanding cash transfer programmes for the vulnerable populations in the country.

Sienaert added that international experience shows that the public sector alone cannot generate sustainable economic growth and jobs. He stressed that public resources remain limited and that a successful strategy for Nigeria would involve positioning the public sector to both provide essential services—such as human capital development and infrastructure—and create an enabling environment for the private sector to thrive.

“Nigeria is no exception, particularly since public resources remain constrained. A useful strategy is to position the public sector to play a dual role as a provider of essential public services, especially to build human capital and infrastructure, and as an enabler for the private sector to invest, innovate, and grow the economy,” Sienaert stated.

The unveiling event was attended by key government officials, including Minister of Finance and Coordinating Minister of the Economy Wale Edun, Central Bank of Nigeria (CBN) Governor Olayemi Cardoso, Minister of Communications and Digital Economy Bosun Tijani, Minister of Budget and Economic Planning Abubakar Bagudu, Plateau State Governor Caleb Mutfwang, UAC Foods MD/CEO Oluyemi Oloyede, and Acting World Bank Country Director for Nigeria Taimur Samad.

The World Bank’s NDU report then noted the urgent need for Nigeria to accelerate its economic growth to meet its aspirations of a $1 trillion economy by 2030. The report stated that this can only be achieved by rebalancing the growth composition toward more productive sectors that create jobs and opportunities for the poor and economically insecure.

While sectors like finance and information and communication technology (ICT) have been key drivers of economic growth, they do not provide mass employment opportunities, as many Nigerians lack the skills to participate in these industries.

The World Bank then proposed a growth strategy led by the private sector but facilitated by the public sector. Critical to this strategy is addressing infrastructure gaps, particularly in electricity and transportation, and fostering a competitive business environment that encourages market openness. Improving access to finance for new and existing businesses and refining policies in key sectors will also help unlock economic potential.

The report also noted that economic growth in the final quarter of 2024 increased by 4.6 percent year-on-year, pushing the forecasted growth rate for the full year to 3.4 percent. This marks the highest growth rate since 2014, excluding the COVID-19 rebound in 2021-2022.

Recent reforms have been credited with improving Nigeria’s foreign exchange market and bolstering the country’s external position. The report recognized significant improvements in the fiscal deficit, which shrank from 5.4 percent of GDP in 2023 to 3.0 percent in 2024, largely driven by a sharp rise in national revenues.

“The fiscal deficit shrank from 5.4 percent of GDP in 2023 to 3.0 percent of GDP in 2024, a major improvement that was driven by a sharp increase in revenues of the entire Federation, which rose from N16.8 trillion in 2023 (7.2 percent of GDP) to an estimated N31.9 trillion in 2024 (11.5 percent of GDP),” the report noted.

Despite these positive developments, inflation remains high but is projected to decrease to an annual average of 22.1 percent in 2025, aided by a continued tight monetary policy stance.

The World Bank report stressed the need for deeper, wider structural reforms to consolidate macroeconomic stability and ignite inclusive growth. It further noted the importance of generating better jobs at scale to reduce poverty.

In his remarks, Taimur Samad, Acting World Bank Country Director for Nigeria, praised Nigeria for making notable strides in restoring macroeconomic stability. He stated that with improvements in fiscal management, the country now has a unique opportunity to direct more resources towards human capital, social protection, and infrastructure development.

Read Also: Tolani Alli’s meteoric rise to World Bank

Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, during the panel discussion, expressed his appreciation for the World Bank’s support and recognition of Nigeria’s progress. He noted that macroeconomic stability is crucial and pointed out the importance of transparency in the oil sector.

“We need to push for transparency in the oil sector, which is key to achieving our economic goals. Investment plays a critical role in creating jobs, and we must maintain the momentum to attract more investments into the country,” Edun said.

The finance minister also spoke about the ongoing efforts to digitalize social safety nets and ensure that cash transfer programmes reach those who need them the most.

CBN Governor Olayemi Cardoso addressed the role of the Central Bank in safeguarding economic stability, particularly in the foreign exchange market. “We will continue to protect the economy. With that comes a need to be proactive,” he remarked.

Cardoso expressed confidence that the ongoing policies will lead to a moderation of inflation and interest rates over time.

He also stressed the importance of financial inclusion, noting that the CBN is committed to supporting the fintech sector and improving access to finance for all Nigerians.

May 12, 2025
Grim projections

•World Bank’s report on poverty in Nigeria is only for the attention of the federal and state governments

It is a subject that Nigerians have long been familiar with: the World Bank and its allied Bretton Wood institutions’ routine projections about Nigeria’s economy. The last Spring Meetings of the World Bank and the International Monetary Fund (IMF) in Washington, DC would prove to be no exception. Although the World Bank noted that Nigeria’s economy showed stronger growth in late 2024, particularly in the non-oil sector, it noted, rather curiously, that deep-rooted challenges related to resource dependence and fragility are expected to push more Nigerians into poverty.

It specifically projected that poverty rate could soar by three percentage points to 56% by 2027, while calling for urgent, decisive and coordinated action to reverse the trend.

Surely, a lot has been written about the underlying metrics being employed by the World Bank and allied institutions as being too limited to have reasonably and comprehensively reflected the unique character of the Nigerian economy and its intricate dynamics. Perhaps far more, however, is the World Bank’s apparent penchant to recycle the same old assumptions that serve merely to reinforce their fixations with traditional orthodoxies even when these are known to fall miserably short of capturing the nuances of the nation’s socio-economic fabric.

Far from being alone in this, Nigerians would recall that the IMF had similarly questioned the Federal Government’s reforms and its impact on poor Nigerians at the end of its Article IV consultation mission to Nigeria, held between April 2 and 15 – the same measures, which ironically, both institutions are on record to have endorsed as being critical to ensure Nigeria’s long-term, balanced growth. While Nigerians increasingly wonder what purpose(s) the grim predictions are meant to serve, suffice it to state that there’s nothing new, let alone sacrosanct, about such projections. Not even its underlying call, which the government has long acknowledged, and which informed the boldest reforms ever undertaken by any administration.

Still, much as the bank considers it its duty to periodically call attention to whatever it considers to be wrong with the economy, particularly the issue of non-inclusive growth, such a dire prophecy could not be said to be helpful, let alone charitable, coming at a time the economy has begun a steady cruise after a major reset, a period during which far-reaching poverty-alleviating measures are being progressively undertaken by the government.

Read Also: Nigeria’s roads and economy need more than one fuel giant

This latter point, which underscores the concerns of most Nigerians, was aptly captured by Senator Jimoh Ibrahim, the senate representative at the World Bank parliament meeting in April when he criticised the IMF over its “negative comments that lack supporting data” about Nigeria’s economy, to which the institution’s managing director, Kristalina Georgieva, has since been quoted as expressing apologies.

Surely, Nigerians recognise the Multidimensional Poverty Index (MPI), for what it is: a call to action. With the 2024 MPI at 63 percent, there is no denying that the Nigerian situation truly qualifies for an emergency, the reason the current administration has for the most part treated it as one. Unfortunately, had the World Bank and the IMF been less picky in their recommendation of conditional cash transfer over which opinions remain divided – hence its apparent frustration of what it considers its slow pace, it would have seen wisdom in ongoing developments that are no less fundamental in nature.

Now, the states and local governments have more money in their kitty to energise their local economies. A good number of the states have already picked up the gauntlet, notably in the areas of agriculture and rural infrastructure. We have also seen a host of federal initiatives such as the students’ loan, consumer credit and the school feeding programme spring up to address the historic and structural nature of the current poverty. So is the steady redirection of the economy away from the curse of oil through the ongoing tax reforms.

Of course, the point bears stating that whereas the World Bank projection of gloom as against progress would naturally be dispiriting, nothing in it makes it a self-fulfilling prophecy. At the very best, it is a mere advisory that the states and the Federal Government will do well to pay attention to.

May 8, 2025
Tolani Alli’s meteoric rise to World Bank

One of Nigeria’s best documentary photographers and visual storytellers, Tolani Alli, has put the country on the global map again. Her latest entry into the World Bank Headquarters in Washington, United States where she will work with the institution’s leadership team to shape global conversations around development, impact and progress through the power of visual storytelling, has elicited cheers.

This new role follows Tolani’s time as Executive Digital Storyteller to the President of the African Development Bank (AfDB), Dr. Akinwumi Adesina, where she documented the Bank’s work across several African nations.

For Tolani, this sterling accomplishment is down to grit, hard work, perseverance and determination. This is indeed a motivation for many young Nigerians in constant pursuit of excellence in their various callings.

A life of adventure is what some people like Tolani wear like a second skin. Her feat has brought glory not just to her but also to Nigeria. It is a reflection of her resilience and passion. It also embodies the true spirit of doggedness and tenacity of purpose.

Kneeling, running, squatting, jumping, all of these characterise the efforts Tolani put in place to get her impeccable shots. She goes even as far as riding atop moving vehicles to capturing shots, telling stories and documenting histories.

With a meteoric rise to fame, Tolani’s intuitive approach to photography has helped her gain prominence over the years. Tolani first documented the late Abiola Ajimobi, a former Oyo Governor, at a time when photography at that scale had limited female representation, before stepping into Novo Isioro’s shoes when she left the job to pursue other endeavours.

Read Also: Celebrating the power of music, IP in Nigeria

Tolani credits her photography journey to a chance interest in a camera after watching an Aston Kutcher cannon commercial while battling a grave illness. As her true passion for photography emerged, she transformed from being medical school bound to becoming obsessed with photography and telling stories with her lens.

Before settling into photography, Between September 2013 and December 2014, Tolani Alli worked as a Software and Hardware Technician at Apple in the United States. Before her employment at Apple, she worked as a Health Specialist in Genesee County, Michigan.

Tolani popularly known as ‘The Hat’ has the late Legendary American basketball player Kobe Bryant as her role model.

In her new role at the World Bank, she will serve as a Creative Campaign Coordinator and Director for one of the world’s largest development finance institutions.

Tolani’s latest feat is to encourage more Nigerian women to break barriers and compete favourably with their male counterparts in any sphere of life.

May 3, 2025
World Bank backs Fed Govt job creation plan
- From Collins Nweze, Washington DC
The Federal Government and the World Bank are working to stimulate private sector’s investments in digital infrastructure to create high-quality jobs for young Nigerians, Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has said.

The minister who spoke on the sidelines of the just concluded World Bank/IMF Spring Meetings, in Washington D.C., said a key component of the partnership included rollout of digital infrastructure to support Nigeria’s growing youth population.

He explained that the collaboration between the Federal Government and the World Bank signaled a unified commitment to tackling unemployment, fostering inclusive prosperity, and building a digital-ready workforce equipped for the challenges and opportunities of the modern economy.

“The idea is to empower our young people with access to the internet, data, and fibre-optic networks. This digital infrastructure will enable them to offer services online, retain talent within our borders, and actively contribute to the digital economy,” Edun said.

Speaking after the conclusion of the Development Committee Meeting, Edun said that the World Bank’s Governors — who are Finance Ministers of member countries — have collectively agreed to prioritise employment generation as a central pillar of development.

He said the agenda aligned seamlessly with President Bola Tinubu’s Renewed Hope Agenda, which places job creation at the core of economic revitalisation efforts.

According to him, the agenda centres on the critical role of multilateral financial institutions — particularly the World Bank — in shaping global development priorities.

He added that efforts to create sustainable jobs and stimulate inclusive economic growth would receive greater attention.

Edun emphasised that the Tinubu administration is committed to unlocking private capital to stimulate productivity, attract both local and foreign investment, and accelerate job creation across sectors.

He pointed out that job creation remains the most effective route to reducing poverty and inequality.

“Creating good quality jobs is essential to addressing poverty. It is central to the President’s vision — stabilising the economy, encouraging private investment, and ensuring that our youth have opportunities at home, rather than seeking them abroad,” Edun said.

The minister had earlier called on the Bretton Woods institutions to extend stronger financial backing to reform-minded economies, particularly in Sub-Saharan Africa.

Read Also: Shettima champions Nigeria’s human capital drive at World Bank/IMF Spring meetings

According to him, strong financial backing should come in form of innovative support instruments to reform-minded economies as they implement bold economic transformation agendas.

He said that under President Bola Tinubu’s leadership, Nigeria is pursuing an ambitious reform agenda designed to restore macroeconomic stability, foster inclusive growth, and position the country for long-term prosperity.

Edun said the measures included the removal of fuel subsidies, the unification of foreign exchange windows, and an ongoing overhaul of the tax system to broaden the revenue base and improve fiscal efficiency.

“These decisions are not easy, but they are necessary for laying the foundation for a more resilient and inclusive economy that works for all Nigerians,” he stressed.

The minister reiterated the call to global investors to take advantage of emerging opportunities in the country, declaring that “Nigeria is open for business”.

He said Nigeria is ready to engage with development partners, investors, and multilateral institutions in advancing its economic transformation agenda.

Edun said government is targeting more than a double in economic growth, from the current three per cent to seven per cent growth.

He explained that the growth is expected to come from accelerated activities in the agricultural sector, infrastructure building and financial sectors transformation, in terms of efficient payment and banking sector stability.

The minister said investors are getting more confidence on the currency and in investing in the economy.

“I am confident that if we continue in the direction we have gone so far, we will continue to see progress in what we are doing,” Edun added.
April 28, 2025
RDI, others petition World Bank to stop financing factory farming projects

The Renevlyn Development Initiative (RDI) has delivered a letter to the World Bank Group at its Lagos office urging its executive directors to end industrial animal agriculture financing because of its impact on man, animals and the environment.

The delivery of the letter is one of the actions undertaken by activists in different parts of the world as part of a global day of action demanding that the World Bank and its private arm – the International Finance Corporation (IFC) stop financing factory farming projects.

In a statement issued in Lagos, RDI said that the World Bank is owned by governments, including Nigeria and public money is being used to finance factory farms—despite their harmful impacts on climate change, biodiversity, and human rights.

Factory farming is a leading cause of climate change, deforestation, biodiversity loss, and zoonotic disease outbreaks. It also exacerbates gender-based violence, labor exploitation, and social inequality, disproportionately harming women and low-income communities.

The public letter, signed by 250 organizations, academics, and advocates in 14 cities across five continents calls on the World Bank to exclude factory farming from its financing by adopting a formal exclusion policy and for it to commit to phasing out existing projects and redirect financial support instead toward sustainable, high-welfare food systems.

Leaders of the movement include International Accountability Project, Bank Information Center, Friends of the Earth US, Sinergia Animal, and World Animal Protection.

Read Also: Endangered ‘first baby’

In Nigeria, RDI and other environmental groups have been consistent in their opposition to factory farming and its ancillary sector, the fertilizer industry in view of their contribution to pollution, public health challenges.

The IFC is one of the partners that provided a financing package of $1.25 billion to Indorama Eleme Fertiliser and Chemicals Limited to supposedly boost fertiliser production despite the company’s environmental track record. In 2021 the company was linked to the pollution of Okulu River in Aleto community of Eleme local government area of Rivers state leading to grave impacts on aquatic animals.

Nigeria also recently entered into a $2.5 billion Memorandum of Understanding (MoU) with Brazilian meatpacker JBS to build six production facilities which are likely to have impacts on the environmental and animal health.

Executive Director of RDI, Philip Jakpor said: “Nigeria should not be complicit in financing this harm. Nigeria is a shareholder of the World Bank, which means our government plays a role in deciding where money is invested. We do not want our public funds supporting industrial factory farms that harm communities, animals, and the planet. Today, we are calling on our government to push for an end to these destructive investments. The World Bank should be “hands off Nigeria” when it comes to supporting factory farms and chemical fertilizers.

“The World Bank and IFC’s financing of factory farms contradicts their commitments to the UNFCCC Paris Agreement, UN SDGs, and the Kunming-Montreal Global Biodiversity Framework. Countries like Nigeria should not be financing industries that undermine these agreements”.

The IFC is also proposing a loan of US$ 5.44 million to Africaine de Production Animale and Couvoir Amar, two Senegalese companies operating in the industrial poultry production value chain. The IFC’s loan, covering about half of the total investment, will finance the construction of a 76,800 tons per annum animal feed mill [and] the raw material will be mainly soybeans and maize which will be imported through an international trader mainly from Brazil.”

“What we are documenting in Nigeria and across Africa is alarming and Nigeria must lead the way in rejecting these investments. We need our government to use its World Bank vote to stop factory farming investments,” added Dominion Amupitan, RDI Project Assistant.

“This is a critical moment for the Bank to transition to funding sustainable, just food systems that protect people, animals, and the environment”, Amupitan insisted.

April 27, 2025
ActionAid Nigeria calls for govt action over World Bank forecast

ActionAid Nigeria has called for government action over the recent World Bank’s April 2025 forecast of a 3.6 percentage point increase in Nigeria’s poverty rate by 2027.

The World Bank report classifies Nigeria as a resource-rich but fragile state, where poverty is expected to worsen due to structural and institutional weaknesses.

The country is home to over 106 million people surviving on less than $2.15 a day, accounting for nearly 15% of the world’s extremely poor.

ActionAid in a statement said the warning is not just a statistic; “it is a national shame. It is a slap in the face of a country that has every resource to provide a life of dignity for all its people but instead continues to serve the interests of a few.

ActionAid Nigeria’s Country Director, Andrew Mamedu, noted that: “Governance remains Nigeria’s greatest obstacle. The World Bank has clearly highlighted the country’s poor performance on governance indicators such as government effectiveness, accountability, and political stability, which remain among the weakest in Africa.

Mamedu called on all Nigerians to rise and hold the government at various levels accountable, saying “The time to be silent has passed. While the government may claim economic progress, the reality is that the rich are getting richer, benefiting from policies like those in the banking sector where profits have soared to 3.41 trillion, while the poor are getting poorer. This is not inclusive growth. Reforms must ensure that the most vulnerable benefit.”

Read Also: Policemen accused of extortion, forced haircuts at Minna checkpoints

ActionAid Nigeria urged the Federal Government to stop playing politics with people’s lives and fully strengthen and expand social protection, including universal cash transfers and food support for the most vulnerable.

AA also called on the government to subsidise and protect smallholder farmers by tackling insecurity and ensuring access to markets, inputs, and tools to boost local food production.

He also urged the government to scrap all non-essential public spending, particularly the outrageous allocations to government officials’ lifestyles and channel funds to education, healthcare and job creation.

Mamedu also called on the government to stabilise the economy through transparent and people-centred fiscal and monetary policies that protect the purchasing power of citizens.

The AA Country Director also called for an end to what he termed government assault on civic space, calling on the government to truly listen to Nigerians.

Mamedu further urged the government to ensure that education is safe and accessible for all, especially in rural and conflict-affected areas.

He also urged the government to invest in infrastructure and industries that promote inclusive, sustainable employment.

April 26, 2025
Samples of World Bank 3.2m meters in our lab for certification – NEMSA

The Nigerian Electricity Management Services Agency (NEMSA) has said samples of the 3.2 million meters under the World Bank Distribution Sector Reform Program (DISREP) are currently in its laboratory for testing and certification.

The NEMSA Managing Director, Tukur Tahir Aliyu, broke the news to reporters in Abuja on Thursday.

He said that no meter in the Nigerian Electricity Supply Industry (NESI) will bypass the testing and certification process of the agency.

“All these meters that are coming in, we will ensure they are tested and certified before they are allowed to be deployed. Those that are coming under the World Bank program, we are already in the process of certifying them.

“Those that are coming are in our labs now. They will be tested and certified in the country. It will not be possible for them to deploy uncertified meters,” he said.

The DISREP is targeted at supplying 3.2 million meters with 1.2 million meters in phase one, December 2024 and 1.3 million in the first quarter of 2025.

Tahir, who is also the Chief Electrical Inspector of the Federation, said the industry has programs targeted at bridging its metering gap.

According to him, in addition to the DISREP, is the Presidential Metering Initiative, which is aimed at supplying seven million meters in different phases.

He said the agency embarks on monthly safety performance rankings of the utility companies.

He stressed, “We do carry out safety performance audits of these utility companies to ensure that they are operating safely in terms of maintenance, operations of the networks, expansion of the networks, and so forth.”

Asked to give an insight into the findings of the latest audit, he said the agency discovered that a lot of the companies were not adhering to the approved safety procedures for the operation and maintenance of the network.

He said, consequently, NEMSA ensured that the utility companies have all safety manuals, where all the procedures and safety requirements are well defined.

He added that the agency also carried out audits of these utility companies to ensure that they are implementing the provisions of those safety manuals. Tahir revealed that the agency has audited about eight of the companies.

The Managing Director said NEMSA is now back on auditing the utility companies to ensure that they are implementing the regulations in the safety manuals.

Continuing, he said, “Some of the observations from the ones we have done so far, like we have done one or two generating plants.

“We have done one or two DisCos, and others. We have seen that the training of their personnel on these procedures, on these safety requirements, has been lacking.”

The NEMSA boss said cash paucity is a major challenge in the industry, hindering utility companies from rehabilitating their ageing equipment.

He said it has also affected the electricity networks in the country.

Tahir was hopeful that as soon as the cash issue is resolved, there will be enough investment in the network for rehabilitation and replacement of ageing electrical materials and equipment in the network.

He explained that some of the technical glitches arise from the feeders at the transmission and distribution points.

He said the feeders that are meant to transfer bulk power from transmission to distribution, the 33 kV primary feeder lines, have been encumbered in so many ways by installing point load transformers and small transformers on the feeders.

Read Also: Africa needs accurate data to develop, Jimoh Ibrahim tells World Bank

He said although they are to carry bulk power from transmission to injection substation, when a smaller transformers, 200 kVA, 100 kVA, 50 kVA, on those lines, each installation constitutes a fault location.

He said any tripping from one of such locations affects the feeder, and sometimes these trippings are translated up to transmission.

He said one of the agency’s major challenges is the issue of permanent office accommodation, calling for a permanent office accommodation.

The Chief Electrical Inspector of the Federation cited funding as another challenge for NEMSA.

He said, “Another major challenge is inadequate funding. Since the inception of the agency, we have been having this funding challenge where we are not able to make adequate provision of those facilities.

“Lack of that funding will lead us not to have adequate state-of-the-art test equipment that we use in our various statutory activities.

” That lack of funding is also affecting our provision of operational vehicles. Because when you carry out an inspection, it means you move from one location to the other.

“You have to go to those sites. And those movements are within the entire country. So you need mobility. You need operational vehicles to do that. “Another major challenge is the issue of the number of personnel. The technical personnel, for example.”

April 24, 2025
Nigeria asks IMF, World Bank to back reforming economies

The Federal Government has urged the International Monetary Fund (IMF) and the World Bank to extend stronger financial backing to reform-minded economies, particularly in Sub-Saharan Africa.

The strong financial backing the federal government said should come in the form of innovative support instruments to reform-minded economies as they implement bold economic transformation agendas.

Nigeria’s appeal was delivered by the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, at the G-24 Ministerial meeting on the sidelines of the ongoing 2025 IMF/World Bank Spring Meetings in Washington D.C.

Addressing global financial leaders and policy influencers, Edun made a case for rewarding economies undertaking difficult yet necessary reforms. He stated that beyond acknowledging reform efforts, it was imperative for the international financial community to expand access to affordable, sustainable financing tailored to support long-term economic transitions.

The Finance Minister presented Nigeria’s statement in his dual capacity as a national representative and as First Vice-Chair of the G-24—a group of developing nations working to coordinate positions on monetary and development issues.

He satted that under President Bola Ahmed Tinubu’s leadership, Nigeria is pursuing an ambitious reform agenda designed to restore macroeconomic stability, foster inclusive growth, and position the country for long-term prosperity.

Read Also; Police detain prime suspects in Niger over vigilante member’s death

The measures, according to him, include the removal of fuel subsidies, the unification of foreign exchange windows, and an ongoing overhaul of the tax system to broaden the revenue base and improve fiscal efficiency.

“These decisions are not easy,” he acknowledged. “But they are necessary for laying the foundation for a more resilient and inclusive economy that works for all Nigerians.”

Edun commended the IMF’s recent creation of a third Sub-Saharan Africa Chair—a move widely viewed as an effort to enhance the region’s voice and participation within the institution. He called for this momentum to continue through expanded African representation in leadership and decision-making roles within the Bretton Woods institutions.

“Nigeria is open for business,” he declared, reaffirming the country’s readiness to engage with development partners, investors, and multilateral institutions in advancing its economic transformation agenda.

The G-24 Meeting serves as a key platform for finance ministers and central bank governors from developing countries to discuss collective challenges and policy solutions, particularly in light of a difficult global economic environment characterized by tight financial conditions, climate-related vulnerabilities, and geopolitical instability.

Edun’s intervention signals Nigeria’s continued commitment to playing a leading role in shaping multilateral development discourse while aligning its domestic policies with global best practices for stability, growth, and sustainable development.

April 23, 2025
AYCF lauds Kaduna’s pact with World Bank, seeks public cooperation

The Arewa Youth Consultative Forum (AYCF) has commended the Kaduna State Governor, Senator Uba Sani, for his unwavering commitment to the development and progress of the state through the strategic partnership with the World Bank.

The AYCF President General, Yerima Shettima, said the collaboration, which encompasses a remarkable portfolio of eight major projects worth a total of $885 million, represents a significant step forward in addressing critical developmental challenges faced by our communities.

Shettima recalled that during a recent courtesy visit by Mr. Ousmane Diagana, the World Bank’s Regional Vice President for Western and Central Africa, Governor Sani articulated a visionary roadmap aimed at enhancing the impact of these projects across various sectors including education, healthcare, infrastructure, agriculture, and social welfare.

Read Also: Amotekun apprehends robbery suspect after escape from police custody

“We applaud the governor’s recognition of the transformative role that the World Bank has played in our state, particularly through initiatives such as the Adolescent Girls’ for Learning and Empowerment (AGILE) Project, the Sustainable Urban and Rural Water Supply, Sanitation and Hygiene (SURWASH) Programme, and the Nigeria COVID-19 Action Recovery and Economic Recovery Stimulus Programme (NG-CARES).

Shettima averred that these projects have not only laid the groundwork for sustainable development but have also provided our youth with opportunities for empowerment and growth, adding that the governor’s commitment to expanding World Bank support into new areas, including the Sustainable Power and Irrigation in Nigeria (SPIN) Project and the Resilient and Accessible Microfinance (RAM) Project, is a testament to his dedication to building a diversified and resilient economy for Kaduna State.

“As stakeholders in the future of Kaduna, we recognise the importance of public cooperation in ensuring the success of these initiatives” he stated.

The AYCF urged all citizens to actively engage with and support the government’s efforts in implementing these projects, stressing that it is imperative that we work together to create an environment conducive for development, where the benefits of such investments can be felt by all, especially the most vulnerable among us.

April 19, 2025
World Bank to invest more in girls’ education in Kaduna

The World Bank has promised improved investment in girls’ education in Kaduna and other states of Nigeria under the Adolescent Girls’ Initiative for Learning and Empowerment (AGILE) Project.

This was as the state Governor Uba Sani disclosed that the World was currently funding eight projects in the state to the tune of over $885 million,

Regional Vice President of the World Bank, Ousmane Diagana disclosed this on Wednesday when he inspected AGILE Intervention Project at Government Girsl Secondary School Kawo, Kaduna, staying that, the Project was World Bank’s response to negative statistics of out of school children in Nigeria.

According to him, “reports have it that there are about 18 million out-of-school children in Nigeria and that 90 per cent of this number are in Northern Nigeria, the majority of whom are girls. So, AGILE is a response to addressing this issue, to create space for girls to go to school and thrive. This will impact society in the long run.”

While expressing satisfaction with the performance of the GGSS Kawo students who made presentations during the inspection programme, the World Bank Regional Vice President said the Bank will continue to invest in girls’ education in Nigeria, particularly Northern Nigeria. “You will see more of AGILE Projects everywhere,” he said.

Earlier, at the government, when Diagana paid a courtesy visit on Governor Uba Sani, the Governor said that Kaduna State can be a model for effective donor-funded World Bank projects in Nigeria, with its strengthened systems and consistent leadership.

According to the governor, the World Bank Projects are ‘’aimed at improving education, healthcare, infrastructure, environmental resilience, agriculture, and social welfare. These projects have not only reinforced the state’s development agenda but have also contributed to reducing poverty and enhancing the quality of life across various sectors,’’ he added.

Governor Uba Sani further said that Kaduna State looks forward to strengthening the existing partnerships with the World Bank and exploring new areas of collaboration.’’

He listed the eight projects that the World Bank is funding in the state, totalling over $885 million, which include the Adolescent Girls’ Initiative for Learning and Empowerment (AGILE) Project, with $80 million in credit.

The Governor said that the AGILE Project “has advanced secondary education opportunities for adolescent girls, achieving over 70% disbursement and notable progress in school infrastructure and enrolment campaigns.’’

He further disclosed that the Accelerating Nutrition Results Nigeria (ANRiN) Project has been fully disbursed and now closed, adding that ‘’the $17 million health and nutrition project significantly improved nutrition services for pregnant and lactating women, adolescents, and children, helping reduce maternal and child mortality.’’

According to him, the State has also benefited from the Nigeria Covid-19 Action Recovery and Economic Stimulus Programme (NG-CARES), which is designed as a COVID-19 recovery effort, adding that, ‘’this $20 million project is supporting vulnerable households and small enterprises. Approximately 45% has been disbursed and fully utilized to date.’’

Read Also: World Bank commits $16bn portfolio to Nigeria

He disclosed that Kaduna State has drawn from a $700 million pool of the Agro-Climatic Resilience in Semi-Arid Landscapes (ACReSAL), adding that the project addresses land degradation and climate resilience through watershed management and afforestation.

The Governor of Kaduna State further disclosed that ‘’over $5.8 million has been disbursed, with implementation gathering momentum.’’

On Kaduna State Rural Access and Agricultural Marketing Project (KADRAAMP), he said that ‘’this $20 million rural infrastructure project is enhancing agricultural market access through rural road rehabilitation. Half the loan has been utilized, and requests for 2025 counterpart funding are under review.’’

According to him, Kaduna State’s portion of the $700 million Sustainable Urban and Rural Water Supply, Sanitation and Hygiene (SURWASH) Program “is progressing, with over $4.2 million drawn down.’’

April 16, 2025