From $300 Million to Nearly $6 Billion: World Bank Chief Hails Nigeria’s Investment Turnaround
World Bank Group President Ajay Banga has praised Nigeria’s progress in attracting private investment, noting that private capital inflows have risen to nearly $6 billion in 2026, from just $300 million in 2023.
Banga made the remarks on Monday in Bangkok during a meeting with Nigeria’s Minister of Finance and Coordinating Minister of the Economy, Mr Taiwo Oyedele, and the Governor of the Central Bank of Nigeria (CBN), Mr Olayemi Cardoso. The meeting took place on the sidelines of the 2026 IMF and World Bank Group Annual Meetings.
Turning Stability Into Growth
The discussions centred on how Nigeria can convert its improved macroeconomic stability into faster economic growth, higher private investment and stronger domestic revenue. Both sides also looked at how the country could use World Bank guarantee instruments to unlock financing for infrastructure and draw more private capital into the economy.
Oyedele told the World Bank chief that Nigeria’s economic growth is improving and that the country’s tax-to-GDP ratio has risen from about 7 per cent to 12.5 per cent. He said this gives the government greater capacity to fund public investment without resorting to deficit monetisation.
Power and People at the Top of the Agenda
The minister named power infrastructure and human capital development as priority areas that need sustained public investment. In his view, progress in both will improve business competitiveness, raise productivity and create jobs.
He added that the engagement is part of the Federal Government’s wider effort to consolidate its reform gains and attract fresh investment through partnerships with development institutions. According to him, the goal is to turn stronger economic fundamentals into productive investment, employment opportunities and better living standards for Nigerians.
The participants also stressed the importance of efficient public spending, so that government expenditure delivers clear economic and social benefits. With private capital now flowing in at a much higher level, the focus is shifting to making sure every naira of public money works as hard as the private capital it is meant to attract.
