‎The Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, and the Governor of the Central Bank of Nigeria, Olayemi Cardoso, have met with World Bank Group President Ajay Banga in Bangkok.

The meeting took place Monday on the sidelines of the 2026 IMF and World Bank Group Annual Meetings where Oyedele is leading Nigeria’s delegation.

The meeting reviewed Nigeria’s reform progress and how to turn macroeconomic stability into faster growth, more private investment and stronger domestic revenue.

‎Banga commended Nigeria’s reforms. He pointed to rise in private capital inflows from about $300 million in 2023 to nearly $6 billion in 2026.

‎Oyedele said Nigeria’s tax-to-GDP ratio rose from about 7 percent to 12.5 percent over the same period. He said this gives government more room to fund public investment without resorting to deficit monetisation.

‎The meeting also discussed how Nigeria can use World Bank guarantee instruments to unlock financing for infrastructure and attract more private capital.

‎It identified power infrastructure and human capital as priorities for continued public investment because of their importance to business competitiveness, productivity and job creation.

‎It also stressed quality of public spending so that each naira delivers measurable economic and social returns.

The engagement is part of federal government’s efforts to lock in reform gains and attract new investment to turn stronger fundamentals into jobs and better living standards.