July 27, (THEWILL) — Nigeria’s economic reforms have received a major boost from the World Bank who Reaffirms its commitment to private sector growth.
The statement came when the Finance and Coordinating Minister of the Economy, Mr. Wale Edun, received Ms. Anshula Kant, Managing Director and Chief Financial Officer of the World Bank, for a high-level engagement focused on deepening economic reforms and mobilising private capital for growth.
Ms. Kant, who led a senior delegation to Abuja, described Nigeria as a cornerstone of the World Bank’s Africa strategy and praised the government’s bold macroeconomic reforms, including foreign exchange liberalisation and subsidy removal, for restoring investor confidence and laying the foundations for inclusive, private sector-driven development.
“Nigeria’s reform momentum is both necessary and commendable”, she noted.
“We stand ready to accelerate our support, particularly in energy, digital access, and youth employment, the pillars of a competitive, future-facing economy”.
On his part, Mr Edun reiterated that Nigeria’s priority is scaling growth through strategic investment in infrastructure, agriculture, and digital innovation. He cited renewed investor interest, improved reserves, and over $7 billion in oil and gas commitments as early signals of success.
“The path to sustainable prosperity lies in unlocking private investment. The World Bank’s partnership is critical to achieving this”, he noted.
The meeting also explored innovative financial tools to reduce the cost of capital and boost SME financing, including blended finance platforms and new guarantee instruments under MIGA.
Our Correspondent reports that the session concluded with a shared commitment to deepen collaboration, ensuring Nigeria’s reforms translate into jobs, capital flows, and resilient economic growth for the benefit of all.
