Nigeria’s Finance Minister and CBN Governor Request World Bank Instruments for Investment

Nigeria’s Finance Minister Taiwo Oyedele and Central Bank Governor Olayemi Cardoso have requested enhanced access to World Bank guarantee instruments to attract private investment and finance critical infrastructure. This request was made during a meeting with World Bank President Ajay Banga on Monday, as part of preparations for the 2026 IMF and World Bank Annual Meetings in Bangkok.

The discussions centered on Nigeria’s economic reforms and strategies to convert improved macroeconomic stability into faster growth, increased private investment, and stronger domestic revenue mobilization. According to the Federal Ministry of Finance, private capital inflows rose from $300 million in 2023 to nearly $6 billion by 2026, representing a 20-fold increase.