Nigeria’s Finance Minister, Taiwo Oyedele, and Central Bank Governor Olayemi Cardoso have met World Bank President Ajay Banga to discuss strategies for accelerating economic growth, attracting investment and strengthening government revenue.
The meeting took place Monday on the sidelines of the 2026 IMF and World Bank Group Annual Meetings in Bangkok, Thailand.
According to the Federal Ministry of Finance, Banga commended Nigeria’s reforms, citing an increase in private capital inflows from about $300 million in 2023 to nearly $6 billion in 2026.
Oyedele also highlighted an increase in the country’s tax-to-GDP ratio from about 7% to 12.5% over the same period, saying this creates more room for public investment without deficit monetization.
The discussions focused on using World Bank guarantees to unlock infrastructure financing, with power and human capital identified as investment priorities for boosting productivity and job creation.
The ministry said the meeting forms part of the Federal Government’s efforts to consolidate reform gains and translate economic stability into sustainable growth and improved living standards.
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