Nigeria has assured the World Bank that it would channel multilateral funds from the World Bank into projects that will expand infrastructure, create jobs, and stimulate private sector investment as part of ongoing efforts to accelerate economic transformation.
The minister of finance and coordinating minister of the economy, Wale Edun, made this commitment at the weekend when he received the Executive Director for Angola, Nigeria and South Africa (ANSA) Constituency at the World Bank, Mrs. Zainab Shamsuna Ahmed, during a strategic briefing on Nigeria’s priorities within the Bank’s constituency.
Edun told the visiting delegation that Nigeria’s reform drive is beginning to yield results, with measures such as the removal of fuel subsidies, improvements in tax collection, and the digitisation of government processes already drawing increased international interest.
He said new investment inflows into manufacturing sectors are evidence of growing confidence in the Nigerian economy.
According to him, the Tinubu administration’s goal is to position Nigeria on a growth trajectory that will significantly improve living standards.
“We are targeting GDP growth of up to 7% in the medium term, more than double population growth and significantly raise living standards,” he stated.
In response, Mrs. Ahmed praised Nigeria’s economic reform agenda and its leadership role in regional and continental platforms, noting its strong presence at the recent Africa Caucus.
She assured the minister of the World Bank’s readiness to continue working closely with Nigeria in delivering projects that support inclusive development and long-term resilience.
