Minister of Finance and Coordinating Minister of the Economy, Prof. Taiwo Oyedele and Governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso have met President of the World Bank Group, Ajay Banga to discuss Nigeria’s shift from stability to growth.
The meeting took place on Monday on the sidelines of the 2026 IMF and World Bank Group Annual Meetings in Bangkok, Thailand where Oyedele led the Nigeria delegation.
According to Head of Media, Federal Ministry of Finance, Efe Ovuakporie, the meeting reviewed Nigeria’s reform progress and next phase of the agenda which is turning macroeconomic stability into faster growth, more private investment and stronger domestic revenues.
Banga commended progress of Nigeria reforms and pointed to the rise in private capital inflows from about $300 million in 2023 to nearly $6 billion in 2026, a twentyfold increase.
Oyedele highlighted rising economic growth and noted that Nigeria’s tax to GDP ratio rose from about 7 percent to 12.5 percent over the same period, giving the government more room to fund public investment without resorting to deficit monetisation.
The meeting discussed how Nigeria can make greater use of World Bank guarantee instruments to unlock financing for infrastructure and draw more private capital into the domestic market.
Power infrastructure and human capital were identified as priorities for continued public investment given their importance to business competitiveness, productivity and job creation.
The meeting also stressed the quality of public spending so that each naira delivers measurable economic and social returns.
The engagement is part of the Federal Government’s wider engagement with development partners to lock in reform gains and attract new investment as Nigeria moves from stability to growth with priority to turn stronger fundamentals into productive investment, more jobs and better living standards.
