World Bank
World Bank excited by Nigeria’s govt job creation plan
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.
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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.
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.
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