…As private capital inflows hit nearly $6bn in 2026
Nigeria’s Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, and Central Bank of Nigeria (CBN) Governor, Olayemi Cardoso, have approached the World Bank for greater access to guarantee instruments to attract private investors and finance critical infrastructure.
The request was made during a meeting with World Bank Group President, Ajay Banga, on the sidelines of the 2026 International Monetary Fund (IMF) and World Bank Group Annual Meetings in Bangkok, Thailand, on Monday.
According to a statement signed by Efe Ovuakporie, Head of Media at the Federal Ministry of Finance, the discussions focused on Nigeria’s economic reforms and strategies to translate improved macroeconomic stability into faster growth, increased private investment and stronger domestic revenue mobilisation.
Banga reportedly commended Nigeria’s reform progress, particularly the increase in private capital inflows from about $300 million in 2023 to nearly $6 billion in 2026.
The figures, disclosed by the ministry, represent an approximately 20-fold increase in private capital inflows over the period.
During the meeting, Oyedele also highlighted improvements in economic growth and tax revenue mobilisation, noting that Nigeria’s tax-to-GDP ratio had increased from about seven per cent to 12.5 per cent.
He said the improvement had expanded the government’s capacity to finance public investment without resorting to deficit monetisation.
The meeting identified World Bank guarantee instruments as a potential means of unlocking financing for infrastructure projects and attracting additional private capital into Nigeria’s economy.
Such guarantees can reduce investment risks, improve access to financing and encourage private investors to support projects that might otherwise struggle to secure funding.
Power infrastructure and human capital development were also identified as priority areas requiring sustained investment because of their importance to business competitiveness, productivity and job creation.
The discussions further highlighted the need to improve public expenditure management to ensure that government spending produces measurable economic and social benefits.
The engagement comes as the Federal Government seeks to consolidate its economic reforms and attract more investment to support sustainable growth.
Although Nigeria has pursued fiscal and monetary adjustments to improve macroeconomic stability, businesses and households continue to face economic pressures.
The major challenge for policymakers remains translating improvements in economic indicators into increased productive activities, more jobs and better living standards.
The Ministry of Finance said the meeting formed part of the government’s broader consultations with development partners to sustain reform gains and attract fresh investment.
Oyedele is leading Nigeria’s delegation to the 2026 IMF and World Bank Group Annual Meetings, which provide a platform for countries to discuss economic policies, development financing and international financial cooperation.
The latest engagement underscores the Federal Government’s determination to mobilise additional financing for infrastructure and other productive sectors as it seeks to move the economy beyond stabilisation towards stronger and more inclusive growth.
