World Bank Commends Nigeria’s Economic Reforms, Pledges Deeper Partnership

World Bank Commends Nigeria’s Economic Reforms, Pledges Deeper Partnership

The World Bank has applauded Nigeria’s recent economic reforms, describing the country as a global benchmark for credible and consistent policy implementation, and has pledged to deepen its partnership with the Nigerian government to drive growth, job creation, and development.

Speaking in Abuja, Anna Bjerde, Managing Director of Operations at the World Bank, said that Nigeria’s reform efforts over the past two years have strengthened investor confidence, positioning the nation as a reference point for global reform leadership. She noted that steady, transparent policies have earned trust among international investors, development partners, and the private sector.

Bjerde also highlighted that the World Bank’s portfolio in Nigeria now exceeds $16 billion, supporting projects in education, health, energy, infrastructure, and social protection. She stressed that the Bank will expand its engagement to focus on private-sector growth, job creation, and access to finance for small businesses.

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President Bola Tinubu reaffirmed Nigeria’s commitment to continuing economic reforms, emphasizing that the initiatives are irreversible and crucial to unlocking the nation’s vast economic potential. Tinubu also urged the World Bank to scale up support in priority areas such as agriculture, infrastructure, and skills development, aiming to ensure inclusive growth and opportunities for Nigeria’s youthful population.

Officials noted that the forthcoming Country Partnership Framework (CPF) will align World Bank support with Nigeria’s vision of achieving a $1 trillion economy and 7% growth, focusing on infrastructure, modernized agriculture, human capital, and access to finance.

The endorsement comes as Nigeria continues implementing macroeconomic and structural reforms, including fiscal and monetary measures aimed at stabilizing the economy, attracting foreign investment, and improving the ease of doing business. The World Bank reaffirmed its commitment to supporting Nigeria’s sustainable development agenda and strengthening bilateral cooperation.

World Bank Commends Nigeria’s Economic Reforms, Pledges Deeper Partnership